A fisherman cleans his oil-covered boat at Lake Maracaibo in Maracaibo, Venezuela, in December. Venezuela nationalized its oil industry in 1976 during the first administration of President Carlos Andres Perez. Its state-owned oil company says it is negotiating to sell crude to the United States. Photo by ,Henry Chirinos/EPA
Venezuela’s state-owned oil company, PDVSA, said Wednesday it is negotiating with the U.S. government to sell crude oil, marking a significant shift in energy ties between the two countries after years of sanctions.
“Petroleos de Venezuela S.A. reports that it is currently engaged in negotiations with the United States for the sale of oil volumes, within the framework of the commercial relations that exist between both countries,” the company said in a statement.
The announcement followed remarks Tuesday by President Donald Trump, who said what he described as Venezuela’s “provisional authorities” would deliver between 30 million and 50 million barrels of crude to the United States.
“This oil will be sold at market price, and I, as president of the United States, will control that money to ensure it is used for the benefit of the Venezuelan people and the United States,” Trump said in a message posted on his Truth Social platform.
PDVSA did not specify volumes or timelines but said the talks fall under commercial agreements and mechanisms already used with authorized international companies, such as Chevron.
The state oil company said the operations would follow criteria of legality, transparency and mutual benefit.
“PDVSA reaffirms its commitment to continue building partnerships that drive national development for the benefit of the Venezuelan people and contribute to global energy stability,” the statement said.
After the capture of President Nicolas Maduro, the U.S. government insisted on taking control of Venezuela’s oil and administering the country, a position rejected by Vice President Delcy Rodriguez and other members of the Maduro government.
On Wednesday, the White House said the crude Caracas agreed to transfer to Washington for commercialization includes sanctioned oil stored in barrels and aboard tankers and said the interim government led by Rodriguez had agreed to release those hydrocarbons.
The statements came hours after U.S. authorities seized two additional tankers linked to Venezuela, one of them carrying an estimated 2 million barrels of crude, according to expert estimates.
