Overview
- Reuters reported that Vitol and Trafigura are in talks with the administration about marketing Venezuelan oil, with both firms declining comment and a White House meeting with traders and majors planned for January 9.
- Financial Times reporting cited by TASS says Chevron, ExxonMobil and ConocoPhillips plan to ask for firm legal and financial protections before deploying capital.
- President Trump said the operation’s goal includes lowering global oil prices and opening Venezuela to major energy companies.
- Trump asserted the United States could earn billions, potentially trillions, from selling Venezuelan crude and said at least $100 billion in investment is expected from major oil firms.
- According to the Washington Post as relayed by TASS, U.S. officials believe Venezuela could run out of funds within weeks without cooperation and are pressing for breaks with Russia, China, Iran and Cuba in exchange for easing oil transport blockades.