January 9, 2026 | 06:55 pm
TEMPO.CO, Jakarta – Venezuela's state-owned oil company, Petroleos de Venezuela S.A. (PDVSA), stated that it is currently engaged in bilateral trade negotiations with the United States for the sale of crude oil.
In a statement posted on its Telegram channel, as reported by Xinhua and cited by Antara on Thursday, PDVSA mentioned that both parties are discussing "the sale of oil volumes," utilizing "similar schemes to those currently in place with international companies, such as Chevron."
The announcement comes a day after US President Donald Trump stated that Venezuela will supply the US with high-quality oil.
The US launched a military operation against Venezuela on the early morning of January 3, kidnapping Venezuelan President Nicolas Maduro and his wife, then detaining them in New York.
The US has faced widespread condemnation and protests following the military attack on Venezuela. The US action has been regarded by many as a violation of law driven by the desire to control Venezuela's oil reserves.
Chevron Competes with Swiss Companies
US-based oil giant Chevron, global trading company Vitol, and other oil traders, producers, and refiners are competing to secure deals for the export of Venezuelan crude oil. This is part of their discussions with US officials to obtain licenses to conduct business with the country, as per industry sources on Thursday, as reported by Yahoo Finance.
These companies are lobbying the US government to secure a share of future oil exports from the South American producer following Washington's announcement of an initial deal worth $2 billion to supply Venezuelan oil to the US and potentially other markets.
Chevron, currently the sole foreign company authorized by the US to export Venezuelan oil, is seeking authorization from Washington to expand its operations in Venezuela after facing restrictions last year, sources stated on Wednesday.
As part of its request, the company has proposed to increase crude oil exports from its joint venture for sale to third parties, and also to trade part of PDVSA's individually produced output managed by the state, two sources mentioned on Thursday.
Under an agreement approved at the end of 2022, Chevron could operate and expand its business in Venezuela alongside PDVSA, enabling it to recover billions of dollars in deferred debt. However, license restrictions reduced Venezuela's crude oil exports to around 100,000 barrels per day in December.
The sources requested anonymity to discuss sensitive information. Chevron and PDVSA did not immediately respond to requests for comment. PDVSA stated on Wednesday that negotiations related to the oil supply deal with the US are ongoing.
The White House did not immediately respond to requests for comment.
Commodity traders based in Switzerland, Vitol and Trafigura, are anticipated to be at the White House on Friday, January 9, 2026, for discussions on the marketing of Venezuelan oil, as mentioned by a source to Reuters earlier on Thursday.
Vitol has received a preliminary license from the US government to initiate negotiations for the import and export of oil from Venezuela for 18 months.
Read: Why Russia Has Kept Quiet over Maduro's Ouster in Venezuela
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