The recent sale of Venezuelan crude oil to U.S. companies has raised major eyebrows. A significant player in this deal is John Addison, a senior oil trader at Vitol. He contributed around $6 million to political action committees supporting Donald Trump’s re-election, making his financial support noteworthy.
Addison’s efforts helped secure a $250 million deal for Venezuelan oil, which is part of a U.S. plan to sell up to 50 million barrels from Venezuela. He met with Trump and other industry leaders at the White House, where he promised to help get the best prices for this oil. While Vitol noted that Addison’s donations were made in a personal capacity, his involvement certainly creates chatter about potential conflicts of interest.
The White House has responded to concerns by stating that these deals are in the best interest of the American people. Administration officials claim that U.S. energy secretary Chris Wright indicated that American sales of Venezuelan oil have been at prices 30% higher than what the Maduro administration had secured just weeks prior. Previously, sanctions pushed Venezuela to sell oil at steep discounts, often to smaller Chinese refineries.
Another global trading company, Trafigura, also participated in buying $250 million worth of oil. They spent about $525,000 on lobbying efforts in the U.S. since 2024, reflecting how significant players in the oil industry are increasingly influential in shaping U.S. policy.
Looking back, this scenario offers a stark contrast to the past when U.S. companies faced heavy restrictions on dealing with Venezuela. The current administration aims to control Venezuela’s oil industry for the foreseeable future. Following the arrest of Nicolás Maduro, the U.S. established a naval embargo and is looking to encourage $100 billion in investment to rejuvenate the country’s oil production and infrastructure.
In a recent comment, the prime minister of Curaçao noted that the first shipment of crude oil from Venezuela would arrive at the island’s oil storage terminal, specifically built to handle large supertankers. This development highlights how the Caribbean could become a strategic hub for distributing Venezuelan oil.
There is growing public and media interest in how these significant oil deals will unfold, especially as we see possible correlations in lobbying activities and political support. The complexities of this situation illustrate the intricate dance between business interests and government policy.
For further details, you can explore more on these topics through trusted sources like OpenSecrets which tracks political donations and lobbying.
