Venezuela in Talks to Sell Oil to the U.S.

On Wednesday, Venezuela’s state oil company, PDVSA, announced it is negotiating with the United States to sell oil.

According to a statement shared via social media, PDVSA mentioned that discussions regarding oil sales to the U.S. are occurring “within the framework of the commercial relations that exist between the two countries.”

The company emphasized that this process mirrors arrangements with international firms like Chevron, stressing a commitment to legality, transparency, and mutual benefit.

In its conclusion, PDVSA highlighted its dedication to forming alliances that foster national development for the Venezuelan populace, while also contributing to global energy stability.

This announcement came soon after President Trump stated that Venezuela could supply between 30 million and 50 million barrels of oil, which would be shipped to U.S. ports and sold at current market rates.

Trump claimed in his communication that he would oversee the sale of this oil to ensure the revenue serves the interests of both Venezuelans and Americans. He indicated that he had instructed Energy Secretary Wright to put the plan into action immediately.

During a Miami conference, Wright noted that oil from Venezuela would be sold “indefinitely,” with proceeds being managed by the U.S.

He clarified that there would be crude oil from Venezuela heading to market, emphasizing that this involves stored oil at first and indicating ongoing sales thereafter.

Later, Trump elaborated that Venezuela is expected to purchase only “American-made products” with the proceeds from the anticipated oil deal.

This includes items like agricultural goods, pharmaceuticals, medical devices, and equipment intended to enhance Venezuela’s struggling power grid.

Trump expressed that this cooperation represents a smart and beneficial partnership for both Venezuela and the United States, appreciating the attention given to this emerging issue.