Trump Claims US to Receive 50 Million Barrels of Venezuelan Oil Worth $5.2 Billion
President touts deal with Venezuelan interim authorities as part of strengthening energy ties following Maduro’s ouster.
US, Jan 17 : President Donald Trump on Friday said that Venezuela has offered Washington 50 million barrels of oil valued at about USD 5.2 billion and that he has agreed to accept the shipment.
Speaking at an event marking the renaming of Southern Boulevard to Donald J. Trump Boulevard, Trump said the Venezuelan interim government told the US it had 50 million barrels of oil to export because it “had no room” to store it, and asked if the United States would take it. “I said, we’ll take it. It’s equivalent to USD 5.2 billion,” the President said.
Trump further praised the “great relationship” with Venezuela’s interim authorities, established after the US capture of former Venezuelan President Nicolás Maduro in a military operation earlier this month. “We’ve had a great relationship with the people who are currently the Interim President and everybody else. A lot of pressure has been released,” he added.
The oil is expected to be processed in the United States, and Trump has directed Energy Secretary Chris Wright to oversee its sale and marketing. A first related sale, worth around USD 500 million, was finalised recently, with revenues held in US controlled accounts, according to administration officials.
Trump has also encouraged major US energy companies to invest in rebuilding Venezuela’s oil infrastructure, which he says could unlock further production and benefit both countries economically.
The planned shipment of 30–50 million barrels of high-quality Venezuelan crude enough for a short-term supply boost follows Washington’s broader effort to secure access to Venezuela’s vast oil reserves under interim leadership and redirect sanctioned supplies to global markets.
