Overview
- Trading executives from Vitol and Trafigura are set to meet U.S. officials at the White House on Friday alongside U.S. oil majors, according to sources.
- The Department of Energy said it is engaging commodity marketers and banks to execute and finance crude and fuel transactions linked to Venezuela.
- Washington and Caracas agreed this week on a transfer of 30–50 million barrels valued at about $2 billion to the United States.
- The administration has stated its goal of maintaining control over Venezuela’s oil sales and revenue on an open-ended basis.
- U.S. oil companies are seeking firm guarantees before committing major capital, and Chevron is in talks to expand its licence to operate and market more barrels.