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Oil Companies Compete for Venezuelan Crude Amid Maduro's Ouster

Following Maduro's ouster, Chevron, Vitol, and Trafigura negotiate with the U.S. to export Venezuelan crude. Trump indicates a potential 50 million barrel transfer.

Insights:
In a significant geopolitical and commercial development, major oil companies are vying for contracts to export Venezuelan crude oil to the United States following the ouster of President Nicolas Maduro nicolas maduro. President Donald Trump donald trumphas indicated that Venezuela is set to transfer up to 50 million barrels of sanctioned oil to the US USUS. This development has sparked a fierce competition among oil giants including Chevron Corporation , Vitol, and Trafigura.
A model of an oil pump is seen in front of a Venezuelan flag in this illustration taken January 9, 2026. REUTERS/Dado Ruvic/Illustration
A model of an oil pump is seen in front of a Venezuelan flag in this illustration taken January 9, 2026. REUTERS/Dado Ruvic/Illustration
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