• Trump announces Venezuela transferring up to 50 million barrels of sanctioned oil to United States
• President declares he will control proceeds to ensure funds benefit both nations
• Energy Secretary Chris Wright ordered to execute plan immediately via storage ships

WASHINGTON (TDR) — President Donald Trump announced Tuesday that Venezuela’s interim government will hand over between 30 and 50 million barrels of high-quality crude oil to the United States, with the president declaring he will personally control the revenue.

“This Oil will be sold at its Market Price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States!”

Trump Directs Wright to Execute Transfer

The president disclosed the Venezuela oil transfer plan on Truth Social Tuesday evening, stating the sanctioned crude will be transported directly to US unloading docks. Energy Secretary Chris Wright received immediate orders to implement the transfer using storage tankers.

“I have asked Energy Secretary Chris Wright to execute this plan, immediately. It will be taken by storage ships, and brought directly to unloading docks in the United States.”

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The announcement marks the latest development following Saturday’s military operation that resulted in the capture of Nicolás Maduro and his wife from their Caracas residence. Trump previously stated American companies would rebuild Venezuelan crude oil infrastructure devastated by years of socialist mismanagement.

Rodriguez Responds as Interim Leader

Delcy Rodriguez, who assumed the interim presidency after Maduro’s removal, delivered a defiant address Tuesday emphasizing Venezuela’s resistance to foreign pressure. The Venezuelan vice president told supporters the country demonstrates strength despite US military action.

“It’s Venezuela that has demonstrated to the world our true character, that we’ve become stronger, that we’ve grown spiritually to confront the challenges, the attacks, the threats.”

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Rodriguez was formally sworn in Monday following an order from Venezuela’s Supreme Court, which described Maduro’s capture as a “kidnapping.” The 56-year-old previously served as petroleum minister and has managed the country’s oil-dependent economy since 2020.

Despite her tough rhetoric, Rodriguez also posted conciliatory messages Sunday inviting US collaboration. Trump warned she faces consequences “probably bigger than Maduro” if she fails to cooperate with American objectives in Venezuela’s oil infrastructure.

Industry Skepticism About Long-Term Plans

While Trump projects confidence about revitalizing Venezuelan petroleum operations, energy sector analysts express reservations about massive investments required. Consulting firm Rystad Energy estimates maintaining current production levels of 1.1 million barrels daily would require $53 billion over 15 years.

“The appetite for jumping into Venezuela right now is pretty low. We have no idea what the government there will look like.”

An industry source told CNN that oil companies remain wary despite White House enthusiasm. Returning Venezuelan oil production to 1990s peak levels of 3 million barrels daily could demand $183 billion through 2040, according to industry projections.

Major US oil companies including ExxonMobil and ConocoPhillips remain cautious after losing assets during Hugo Chávez’s nationalization campaign around 2006. Both firms are still seeking billions in compensation from previous Venezuelan asset seizures.

Energy Secretary Wright Holds Key Role

Chris Wright will coordinate with oil executives this week during a Goldman Sachs conference in Florida, where Venezuelan energy development is expected to dominate discussions. The Department of Energy secretary faces the challenge of organizing storage vessel logistics while navigating complex political dynamics in Caracas.

Sources familiar with administration planning indicate Wright and Secretary of State Marco Rubio will lead efforts to engage American petroleum companies. Chevron, currently the only major US firm operating in Venezuela under special license, produces approximately 150,000 barrels daily through joint ventures with state-owned PDVSA.

“Chevron remains focused on the safety and wellbeing of our employees, as well as the integrity of our assets. We continue to operate in full compliance with all relevant laws and regulations.”

Market Impact Remains Uncertain

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