The United States has carried out its first sale of Venezuelan crude oil, marking a significant shift in Washington’s approach to the country’s energy resources following recent political developments in Caracas.
According to Reuters’ report, an administration official confirmed that the initial transaction was valued at about $500 million, with further oil sales expected in the days and weeks ahead.
Details of the sale, including buyers and delivery timelines, were not immediately disclosed.
The move follows the US intervention in Venezuela earlier this month and the capture of President Nicolás Maduro. Since then, President Donald Trump has made clear his intention to tap into Venezuela’s vast oil reserves, describing them as a key asset in the country’s economic future.
On Friday, Trump said the oil industry could invest at least $100 billion to revive Venezuela’s long-neglected energy sector, though no breakdown was provided to support the figure. That optimism was met with caution from senior US energy executives during discussions at the White House.
ExxonMobil chief executive Darren Woods told officials that Venezuela remains a difficult investment environment, citing the absence of clear legal and commercial frameworks. “There are a number of legal and commercial structures that would have to be put in place to even assess potential returns,” he said. Other industry leaders echoed similar concerns, and no firm investment commitments emerged from the meeting.
In a statement, White House spokesperson Taylor Rogers said the administration is holding “positive, ongoing discussions” with oil companies interested in making large-scale investments to restore Venezuela’s oil infrastructure.
Meanwhile, market reports suggest Venezuelan crude is being offered to traders at a discount compared with oil from other suppliers, including Canada, as efforts begin to reintroduce the country’s output into global markets.
While the first sale signals a new phase in US policy toward Venezuela’s energy sector, industry executives remain cautious about the scale and speed of any long-term investment until regulatory and political uncertainties are addressed