US energy secretary vows to sell Venezuelan oil â€~indefinitely’
The US energy secretary has said Washington will sell Venezuelan oil “indefinitely,” signaling a long-term posture that would deepen the White House’s influence over Venezuela’s economy through its most critical sector.
In recent days, US officials have indicated that Caracas will transfer crude valued at roughly $3 billion. The arrangement would put Washington in a position to manage flows, timing, and destinations of Venezuelan shipments, extending US oversight beyond previous sanctions and licensing frameworks.
Separately, Washington is reportedly discussing plans to partially take control of Venezuela’s state-owned oil company. The talks suggest a potential shift from punitive measures toward more direct operational involvement, with implications for management, revenue allocation, and compliance with US policy objectives.
The White House is also set to host American oil executives on Friday, a meeting expected to focus on logistics, pricing dynamics, and the regulatory contours of the plan. Industry participants will likely seek clarity on contract structures, liability considerations, and how the government intends to handle existing commercial commitments.
While “indefinitely” underscores the open-ended nature of the US approach, the timeframe and scope could ultimately depend on evolving legal, diplomatic, and market conditions. Any partial takeover structure would need to address governance, transparency, and accountability in the flow of funds—especially how proceeds are accounted for and who oversees distribution.
Potential impacts include shifts in global supply balances, with added barrels influencing price stability, as well as significant consequences for Venezuela’s domestic finances. For Caracas, US-managed sales could stabilize revenue streams in the near term but would also concentrate decision-making power outside the country, affecting investment priorities and operational autonomy in the energy sector.
Key questions remain: how revenue will be managed and audited; what benchmarks would trigger expansions or reductions in US involvement; and how a partial takeover would be structured to comply with international law and corporate governance standards. Details may become clearer following the scheduled White House meetings with industry leaders and subsequent policy guidance.
For now, the pledge to sell Venezuelan oil “indefinitely” points to a deepening role for Washington in the country’s energy system, with far-reaching economic and political implications that will unfold as the operational framework is finalized.
