Reuters: US, Venezuela hold secret talks on oil supplies

The United States and Venezuela are engaged in discussions over oil deliveries to American refineries.

According to multiple sources, the talks have not yet been officially confirmed by the White House or Venezuelan authorities, Reuters reports.

Sources also indicate that US oil companies could be invited to the White House as early as January 9 to discuss potential investments in Venezuela’s oil sector. These discussions are still in the coordination stage.

US President Donald Trump previously stated that American oil firms should return to Venezuela to restore the country’s infrastructure. He added that he has been actively negotiating with US oil companies about potential investments in Venezuela since the operation there began.

For much of the 20th century, Venezuela was one of the biggest crude suppliers to the United States. After the Venezuelan government nationalised oil in the 1970s and later tightened control under Hugo Chávez, US companies gradually pulled back. From 2019 onward, US sanctions targeted Venezuela’s state oil company (PDVSA), effectively banning most oil imports and limiting operations by US firms.

US sanctions have frozen Venezuelan assets and blocked payments for oil exports, forcing Venezuela to reorient much of its crude trade toward China and other buyers. Before sanctions, US refineries were major consumers of Venezuelan heavy crude; afterwards, exports to the US dropped sharply.

Recent US military and diplomatic pressure on the Maduro regime and discussions about sanctions relief are tied to broader efforts to regain influence in Venezuela’s oil sector. US authorities have considered limited licences for companies like Chevron to operate, but structural political risk and damaged infrastructure remain major hurdles.

By Jeyhun Aghazada