The US administration announced it has completed the first sale of Venezuelan oil, worth about $500 million, following the early‑January military operation in Venezuela and the capture of Nicolas Maduro. White House officials said additional sales are expected in the coming days and weeks, and the revenue from this sale is being held in bank accounts controlled by the US government in "neutral" locations like Qatar.
President Donald Trump said last Friday that major US oil companies would invest at least $100 billion to rebuild Venezuela's collapsed energy infrastructure, aiming to lower US energy prices and increase Venezuelan oil output by 50 % within 18 months. White House spokesperson Taylor Rogers said the administration is in talks with companies ready to make "unprecedented" investments to restore Venezuela's oil facilities.
Despite this optimism, leading oil sector executives have been cautious. At a recent White House meeting, ExxonMobil CEO Darren Woods described Venezuela as "uninvestable" without clear legal and commercial frameworks, citing past seizures of company assets.
Reuters also reported that Venezuelan crude is being offered to traders at discounted prices compared with competitors like Canada, and that some of the revenue could be used to improve Venezuela's health system, though spending decisions will be at the US government's discretion.
