Trump Considers Blocking Venezuelan Oil Exports Through Chevron

Former U.S. President Donald Trump has hinted that he may block Venezuelan oil exports through American companies like Chevron.

At a press conference from his residence in Florida, Mar-a-Lago, Trump responded with a “probably not” when asked if he would allow Venezuela to sell its oil abroad. “We are analyzing the situation,” he added.

Chevron has continued operating in Venezuela thanks to agreements signed in 2019, despite sanctions imposed on Nicolás Maduro’s government. These restrictions resulted from alleged irregularities in the 2018 and 2024 presidential elections. Unlike other U.S. companies that withdrew from the country, Chevron obtained special licenses from Joe Biden’s administration in 2022 as an incentive to encourage dialogue between the Chavista regime and the opposition.

Last month, Chevron sent about 238,000 barrels per day of Venezuelan oil to the United States, according to Reuters. Venezuela, which has the world’s largest proven crude reserves, has reached a production level of one million barrels per day, according to data from the Organization of the Petroleum Exporting Countries (OPEC).

Chevron and Its Presence in Venezuela

Chevron CEO Michael Wirth defended his company’s presence in Venezuela during an event at the Atlantic Council think tank. According to him, when other Western companies left the country, they were replaced by Russian and Chinese firms.

“If we were to leave as well, the same thing would happen,” he warned.

Meanwhile, Secretary of State Marco Rubio has criticized the license granted to Chevron, arguing that it represents a key source of income for Maduro’s government. After last July’s elections, the United States and other countries denounced fraud, pointing out that the Chavista-controlled electoral body did not release the full results. In contrast, the opposition did, claiming that their candidate, Edmundo González Urrutia, was the true winner. The Trump administration has recognized him as “the legitimate president.”

Trump’s Stance on Venezuelan Oil

Trump explained that his team is discussing the issue within the government. “It’s a bit early to make a decision. We weren’t buying oil from Venezuela before, but when Biden came to power, for some reason, he started doing it, even though we have more oil than anyone. They paid Venezuela a fortune,” he stated.

The possibility of blocking Venezuelan oil exports is part of a broader debate on how the United States should manage its relationship with Caracas. While some argue that Chevron should remain in the country to prevent Russia and China from gaining more influence, others believe that this only strengthens Maduro’s government.

Venezuelan Migration in the Equation

Another factor that could influence Trump’s decision is the resumption of deportation flights for Venezuelan migrants from the United States. Until recently, Venezuela refused to accept its expelled citizens. However, at the end of last month, U.S. envoy Richard Grenell visited Caracas and secured Maduro’s approval for this measure, which is a priority for the new Republican administration.