Trading Houses Secure Licenses for Venezuelan Oil Exports
Following the capture of Venezuelan President Nicolas Maduro, Vitol and Trafigura have obtained licenses to export Venezuelan crude oil. This $2 billion deal positions them ahead of U.S. oil majors, reflecting significant shifts in global oil dynamics.
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In a significant development following U.S. military action in Caracas, which led to the capture of Venezuelan President Nicolas Maduro nicolas maduroin January 2026, two global trading houses, Vitol and Trafigura, have secured preliminary licenses to export Venezuelan crude oil. This move positions these trading entities ahead of major U.S. oil companies in controlling the initial flow of up to 50 million barrels of previously blockaded oil, under a $2 billion deal.
