Venezuela’s PDVSA Advances Oil Talks With US, Ensuring Market‑Price Sales Only
Venezuela insists on fair market prices in US talks.
Venezuela's state-owned oil giant PDVSA confirmed on Wednesday that negotiations with the United States for crude oil sales are advancing steadily. The company stressed that any agreements will mirror existing commercial arrangements with international partners, particularly those involving Chevron, which currently holds the primary joint venture and controls exports to the American market under a special U.S. license.
PDVSA board member and union leader Wills Rangel told reporters that Venezuelan oil will only be sold at prevailing international market prices. He categorically rejected any suggestion of preferential or discounted rates, asserting that Venezuela has no outstanding debts to the United States and that its natural resources remain sovereign property not subject to external appropriation.
The ongoing talks come in the wake of Washington's recent announcement granting U.S. access to Venezuelan crude valued at up to $2 billion. This development aligns with President Donald Trump's public demands for interim President Delcy Rodríguez—elevated following the deposition of Nicolás Maduro—to provide comprehensive access to Venezuela's oil sector for American companies, under threat of further intervention.
Also Read: Trump Says Venezuela to Turn Over 30–50 Million Barrels of Oil to U.S., Proceeds ‘Controlled by Me’
Rangel highlighted that Chevron remains the sole active exporter of Venezuelan crude to the U.S., as broader sanctions continue to disrupt traditional trade routes, notably paralyzing shipments to China, Venezuela's primary buyer. PDVSA reiterated its commitment to transactions that are fully legal, transparent, and advantageous to both sides.
These negotiations represent a delicate balancing act for Venezuela's interim leadership, navigating economic recovery needs while firmly safeguarding national interests amid intensified U.S. pressure and evolving geopolitical dynamics in the energy sector.
Also Read: Trump’s Venezuela Oil Ambitions Face Reality Check as Experts Warn of Long, Costly Rebuild
