U.S. Government Completes First Venezuelan Oil Sale Valued at $500M

The Trump administration has finalized its first sale of Venezuelan crude oil, generating around $500 million in revenue, White House officials confirmed to multiple outlets Thursday. This landmark transaction marks the beginning of Washington’s efforts to market Venezuela’s energy resources globally following recent political developments.

In coordination with major trading houses Vitol and Trafigura, which agreed to support logistics and marketing, the shipment is expected to be refined in U.S. facilities after temporary storage. Trafigura has publicly acknowledged its role in moving and marketing the Venezuelan crude, while Vitol also played a key part in arranging the initial deal.

The oil reportedly sold at a discount to Brent crude, reflecting current market dynamics for Venezuelan grades. Industry sources suggest buyers are securing cargoes at discounts of approximately $6–$9 per barrel compared with global benchmarks.

Potential Benefits for U.S. Refiners

U.S. refiner Citgo, previously owned by Venezuela’s state energy company PDVSA and recently acquired by an American consortium through forfeiture proceedings, could be well positioned to profit from these sales. Before sanctions, Citgo was the largest U.S. importer of Venezuelan crude, with infrastructure well-suited for heavy grades such as Merey-16.

Broader Administration Strategy

The administration has signaled that more Venezuelan oil sales are expected in the coming weeks as part of a broader plan to control and monetize the country’s vast oil output. Officials describe the initial transaction as the first phase of an indefinite marketing strategy that could include tens of millions of barrels.

This initiative is supported by an ongoing campaign of tanker seizures and forfeiture actions that give the U.S. leverage in managing Venezuelan oil exports. Dozens of additional warrants are reportedly in preparation, laying the groundwork for further vessel actions if necessary.

International and Industry Developments

Meanwhile, several foreign oil firms including Repsol and Maurel & Prom are applying for U.S. licenses to export Venezuelan crude, underlining the growing global commercial interest following the shift in U.S. policy.