Venezuela is sending 10 million barrels of oil to the US, pending Trump's final approval for a deal.
1 report, 1 independent
Updated May 28
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What happened
Venezuela is sending 10 million barrels of oil to the US, pending Trump's final approval for a deal.
Who's involved
What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.- Donald Trump discussed a potential energy and nuclear partnership with Venezuela.Sub-event
Venezuela ships oil to US, requiring Trump's approval for a deal.1 source
Keep exploring
Part of
Oil majors, including ExxonMobil and ConocoPhillips, are seeking to restart production and secure durable contracts for Venezuela's vast oil reserves.Also in this story
- BP, Shell, and ConocoPhillips are actively involved in the revival of Venezuela's oil industry, including BP's investment in gas fields and corporate competition for licenses.
- The US is seeking investment to revive Venezuela's struggling oil sector, with talks focused on heavy crude reserves in Monagas state.
- A conference is underway in Caracas, the capital city, involving NJ Ayuk and the national oil company PDVSA.
The entities involved
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Donald Trump
American businessman and politician (born 1946), President of the United States (2017–2021; since 2025)
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Venezuela
Country in Latin America
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- A proposed deal, announced on January 5, 2026, targets Venezuelan oil reserves involving Alejandro Betancourt and Donald Trump.
- US seized tankers carrying Venezuelan oil bound for Cuba.
- Ceasefire talks regarding Iran's nuclear program are underway in Qatar, with Iran offering to give up highly enriched uranium.