Trump and U.S. Corporate Oil to Proceed with Crude Sales, Revitalization Efforts

In the wake of the recent extraction of former Venezuelan President Nicolás Maduro in a United States military operation on the 3rd of the new year, sources share that the White House has closed its first Venezuelan oil sale, estimated to carry a value of approximately $500 million.

Just days after Maduro’s removal, President Trump called a prompt meeting with top U.S. oil executives to discuss entrance and  "revitalization" plans for the newly accessible Venezuelan oil industry. Attendees included commercial gas corporation executives, including ExxonMobil CEO Darren Woods and representatives from Chevron, Valero, and Marathon. Large-scale industrial natural gas suppliers were also present, including ConocoPhillips CEO Ryan Lance, joined by representatives from Halliburton.

A summit between the president and some of the most powerful figures in national oil and gas, the meeting aimed to “discuss plans for investment” as the U.S. moves forward with industry involvement and possible restabilization efforts, in an initiative the Department of Energy ensures will bring “prosperity, safety, and security” to U.S.-Venezuela relations.

ExxonMobil CEO Darren Woods at a White House meeting with oil executives earlier this month. Source: Alex Wong/Getty Images

However, executives expressed concern about the potential for valuable returns on investment in Venezuela. The capture of ex-President Maduro comes after a period of over a decade of declining oil production from the industry, which became increasingly nationalized as years went on. Despite continuously sitting on the largest reserves in the world to date, with over 303 billion barrels of crude oil, nationalization caused the industry to deteriorate over time, with much less potential remaining for U.S. corporations to enter. “It’s uninvestable”, commented ExxonMobil CEO Darren Woods, speaking to the lack of infrastructure and commercial stability in the region.

While details are somewhat unclear, U.S. Gulf Coast refineries have taken part in the purchase after global energy corporations Vitol and Trafigura struck a deal in partnership with the interim Venezuelan government to begin the export process. Reports also detail that the oil is being sold at a discount to competing Canadian barrels. Canadian oil reserves tend to produce naphtha, a lighter hydrocarbon, post-refinement; considering the market abundance of Canadian oil, Venezuelan crude exports will likely prove lucrative, despite questionable investment goals from the White House.

The Aban Pearl gas rig in the Caribbean Sea, along the Venezuelan Coast. Source: Reuters/PDVSA

While many, including Venezuelan citizens, see Maduro’s capture as a laudable act, ending the reign of a brutal leader in a nation that has struggled with narco-terrorism, limited free speech, and other human rights violations, others argue that President Trump’s power grab in the region was solely motivated by investment potential. Critics point to historical U.S. interventionism in places such as Iran, worrying that the interim government may leave a vacuum of power if left unstable, or that U.S. backed leadership will neglect fair governance in order to prioritize U.S. corporate interests, in this case with oil and gas in particular.

This story is still unfolding and may be updated.

By Arya Shah '29

Published 01/27/2026