The United States has completed its first sales of Venezuelan oil under a major agreement with Venezuela’s interim government, marking an early step in efforts to manage and monetize the South American nation’s vast oil resources following the recent capture of former President Nicolás Maduro.
According to a U.S. administration official speaking to Reuters on January 14, 2026, the initial sales are valued at approximately $500 million and form part of a broader $2 billion deal negotiated between Washington and Caracas earlier this month. More sales are anticipated in the coming days and weeks as the process continues.
The revenue from these sales is being held in bank accounts under U.S. government control. This includes a main account located in Qatar, chosen to facilitate neutral and secure fund movement. The arrangement stems from an executive order issued late last week, which directs how proceeds from Venezuelan oil will be managed.
This development follows the U.S. military operation in early January 2026 that led to Maduro’s arrest and removal from power. President Donald Trump has described Maduro as a “narcoterrorist” and emphasized that the U.S. would oversee a transition in Venezuela, including taking charge of its oil industry to prevent benefits from flowing to corrupt officials or foreign adversaries.
In statements to media outlets like TIME and others, White House spokesperson Taylor Rogers highlighted the deal as “historic,” saying it would benefit both American and Venezuelan people. She added that the administration is in ongoing discussions with major U.S. oil companies interested in investing to repair Venezuela’s deteriorated oil infrastructure.
Trump has repeatedly stated that large American energy firms—the world’s biggest—would invest billions to rebuild pipelines, refineries, and other facilities damaged by years of neglect and mismanagement under previous Venezuelan leadership. He has projected that such investments could help restore production and generate revenue for the country.
However, skepticism exists among some U.S. energy executives. During a White House meeting with oil industry leaders, ExxonMobil CEO Darren Woods reportedly described Venezuela as “uninvestible” due to unresolved legal, commercial, and security challenges. Other executives echoed concerns about the risks of committing large sums without clear frameworks for returns or stability.
Venezuelan crude has been offered to traders at discounts compared to competing grades, such as Canadian heavy oil, though some reports note it trading at premiums in certain U.S. Gulf Coast markets suited to processing heavy crudes.
The broader context involves U.S. plans to sell up to 30–50 million barrels of Venezuelan oil, with proceeds intended to support the Venezuelan people rather than the former regime. The administration frames these actions as protecting the Western Hemisphere from threats like drug trafficking while promoting energy security and economic recovery in Venezuela.
This first $500 million milestone signals progress in implementing the post-Maduro energy strategy, though questions remain about long-term investment, international reactions, and how funds will ultimately be distributed to aid Venezuela’s population.
