Venezuela progresses in oil supply talks with United States
Venezuela’s state-owned oil company PDVSA said it is making progress in negotiations with the United States over the sale of crude oil, as officials from both sides discuss terms for future supplies.
The talks follow a U.S. announcement that it has secured access to up to $2 billion worth of Venezuelan crude, a move seen as part of pressure from President Donald Trump for Caracas to open its oil industry to U.S. companies.
PDVSA said discussions are based on commercial terms similar to those it currently has with foreign partners such as Chevron and are grounded in legality, transparency and mutual benefit. A PDVSA board member stressed that the U.S. would need to buy oil at international market prices, rejecting any notion that Venezuela owes crude to Washington.
Chevron remains the only firm actively exporting Venezuelan oil to the U.S. under a special licence, while exports to China have been disrupted by a U.S. blockade on Venezuelan shipments.
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