Overview
- Bloomberg reported Repsol will file a formal request in the coming days to resume shipments of Venezuelan crude to the United States.
- CEO Josu Jon Imaz told Trump at a White House meeting that Repsol can raise its Venezuelan oil production from about 45,000 barrels per day to roughly 135,000 within three years.
- The planned move follows the U.S. decision in late March 2025 to revoke export permissions for several firms, including Repsol, with operations halted by May 27.
- Repsol continues gas operations in Venezuela, which account for more than 80% of its local business, and Imaz said these activities help support the country’s power supply.
- U.S. officials met energy executives on Venezuela policy, with attendees including Chevron, Exxon, ConocoPhillips, Eni, and major trading firms alongside Repsol.