Oil talks begin, but the paperwork hasn't.
World
M
Moneycontrol07-01-2026, 01:25

US Eyes Venezuelan Oil After Maduro Ouster; Big Oil Unbriefed on Investment Plans

  • US and Venezuelan officials are discussing crude exports to the US following Nicolás Maduro's ouster.
  • US Gulf Coast refineries are suited for Venezuela's heavy crude, which was regularly imported before sanctions.
  • President Trump envisions US investment to rebuild Venezuela's oil sector, with potential taxpayer reimbursement.
  • Major US oil companies (Exxon Mobil, Chevron, ConocoPhillips) deny being briefed by the White House on Venezuelan operations.
  • Antitrust concerns complicate collective discussions between oil companies and the White House regarding Venezuela.

Why It Matters: US explores Venezuelan oil imports post-Maduro, but major oil firms are not yet on board with investment plans.

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