{"id":152,"date":"2026-01-08T02:16:40","date_gmt":"2026-01-08T02:16:40","guid":{"rendered":"https:\/\/www.worldwatchalert.com\/?p=152"},"modified":"2026-01-08T02:16:41","modified_gmt":"2026-01-08T02:16:41","slug":"us-moves-to-control-venezuela-oil-sales-indefinitely-after-maduro-ouster","status":"publish","type":"post","link":"https:\/\/www.worldwatchalert.com\/?p=152","title":{"rendered":"US Moves to Control Venezuela Oil Sales Indefinitely After Maduro Ouster"},"content":{"rendered":"\n<p><strong>WASHINGTON \/ MIAMI \u2014<\/strong> The United States must indefinitely control Venezuela\u2019s oil sales and revenue to stabilise the country\u2019s economy, rebuild its oil sector and ensure it aligns with American interests, senior US officials said on Wednesday, underscoring crude oil\u2019s central role in President Donald Trump\u2019s Venezuela strategy.<\/p>\n\n\n\n<p>The comments follow Saturday\u2019s US military operation in Caracas that resulted in the capture of Venezuelan leader Nicolas Maduro, a dramatic escalation in Washington\u2019s long-running confrontation with the OPEC member nation.<\/p>\n\n\n\n<p>\u201cWe need to have that leverage and that control of those oil sales to drive the changes that simply must happen in Venezuela,\u201d US Energy Secretary Chris Wright said at the Goldman Sachs Energy, CleanTech &amp; Utilities Conference in Miami.<\/p>\n\n\n\n<p>Wright said oil revenues would be used to stabilise Venezuela\u2019s battered economy and could eventually repay US oil majors Exxon Mobil and ConocoPhillips for losses incurred when their assets were nationalised under former President Hugo Chavez nearly two decades ago.<\/p>\n\n\n\n<p>US Vice President JD Vance said control of Venezuela\u2019s oil amounted to control of the country itself.<\/p>\n\n\n\n<p>\u201cWe control the energy resources, and we tell the regime: \u2018You\u2019re allowed to sell the oil so long as you serve America\u2019s national interest,\u2019\u201d Vance said in an interview on Fox News\u2019 <em>Jesse Watters Primetime<\/em>.<br>\u201cThat\u2019s how we exert incredible pressure on that country without wasting a single American life.\u201d<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Democratic backlash, industry concern<\/h3>\n\n\n\n<p>Democratic lawmakers sharply criticised the policy. Senator Chris Murphy of Connecticut compared it to seizing Venezuela\u2019s oil \u201cat gunpoint,\u201d while energy analysts warned that political instability could intensify as the country balances domestic backlash with pressure from Washington.<\/p>\n\n\n\n<p>Venezuela holds the world\u2019s largest proven oil reserves but produces only about 1% of global supply, after decades of underinvestment and mismanagement eroded output.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Stored oil to be sold first<\/h3>\n\n\n\n<p>Wright said the US would initially market stored Venezuelan oil before selling future production indefinitely, with proceeds placed into accounts controlled by the US government.<\/p>\n\n\n\n<p>The US Department of Energy said sales are already underway, supported by leading commodity traders and international banks. Wright added that he is in talks with US oil companies to determine what conditions would allow them to return to Venezuela and help boost production over the long term.<\/p>\n\n\n\n<p>\u201cThe resources are immense. This should be a wealthy, prosperous, peaceful energy powerhouse,\u201d Wright said.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Initial export deal announced<\/h3>\n\n\n\n<p>On Tuesday, Washington announced an agreement allowing the export of up to $2 billion worth of Venezuelan crude to the United States, signalling cooperation from the interim government led by President Delcy Rodriguez.<\/p>\n\n\n\n<p>Trump said on Wednesday that Venezuela had agreed to use proceeds from oil sales to purchase American-made goods.<\/p>\n\n\n\n<p>\u201cA wise choice, and a very good thing for the people of Venezuela, and the United States,\u201d Trump wrote on Truth Social.<\/p>\n\n\n\n<p>Venezuela\u2019s state-run oil firm PDVSA confirmed progress in negotiations. Board member Wills Rangel said US buyers would need to pay fair market prices for crude cargoes.<\/p>\n\n\n\n<p>Shares of US refiners Marathon Petroleum, Phillips 66 and Valero Energy rose between 2.5% and 5% following the announcement.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">White House talks with oil majors<\/h3>\n\n\n\n<p>Trump is scheduled to meet the heads of major US oil companies at the White House on Friday to discuss ways to increase Venezuelan oil production. Representatives from Exxon Mobil, ConocoPhillips and Chevron are expected to attend, according to sources familiar with the plans.<\/p>\n\n\n\n<p>Chevron, the only US oil major still operating in Venezuela, said Vice Chairman Mark Nelson would represent the company. All three companies declined to comment.<\/p>\n\n\n\n<p>Wright told CNBC he spoke with the chief executives of Exxon Mobil, ConocoPhillips and Chevron immediately after Maduro\u2019s capture and expects them to assist in rehabilitating Venezuela\u2019s oil sector.<\/p>\n\n\n\n<p>Venezuela produced as much as 3.5 million barrels per day in the 1970s, but output averaged about 1.1 million barrels per day last year. Wright said production could rise quickly with new equipment and technology, though a full recovery would take years.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>WASHINGTON \/ MIAMI \u2014 The United States must indefinitely control Venezuela\u2019s oil sales and revenue to stabilise the country\u2019s economy, rebuild its oil sector and ensure it aligns with American&hellip; <\/p>\n","protected":false},"author":1,"featured_media":107,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[23,25,22,20,24],"class_list":["post-152","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world","tag-caracas","tag-latin-america","tag-maduro-ouster","tag-usa","tag-washington"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>US Moves to Control 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