Trading Houses Outpace U.S. Oil Majors to Secure First Venezuelan Oil Deals

Global commodities trading firms have beaten major U.S. oil companies to secure the first contracts to export Venezuelan crude following the U.S. military’s removal of President Nicolás Maduro. Dutch‑based Vitol and Singapore‑headquartered Trafigura were tapped by the U.S. government to quickly restart Venezuela’s crude shipments, a strategic priority before broader reconstruction efforts begin. Washington and Caracas are close to finalizing a $2 billion deal to sell up to 50 million barrels of Venezuelan crude — oil that had been stuck in storage due to a U.S. blockade. Revenues from these sales are intended to fund the interim Venezuelan government under President Delcy Rodriguez. U.S. energy majors — including ExxonMobil and ConocoPhillips — have been hesitant to enter the market, citing legal, credit and security risks. Exxon’s CEO described Venezuela as “uninvestable,” prompting President Donald Trump to suggest Exxon might be excluded from future investment opportunities. Vitol and Trafigura’s agility and willingness to take on higher risks, along with special U.S. export licenses, allowed them to move ahead of traditional oil giants. They will also supply lighter oil needed to blend Venezuela’s dense crude for export. #VenezuelanOil #EnergyMarkets #TradingHouses #OilExports #SlimScan #GrowthStocks #CANSLIM