Trading houses beat US majors to first deals for Venezuelan oil
January 12, 2026
(BOE Report) – Global oil trading houses have emerged as early winners in the race to control Venezuelan crude flows, getting ahead of U.S. energy majors wary of credit and legal risks and securing a potentially lucrative business opportunity in the country with the world’s largest crude reserves. U.S. President Donald Trump said U.S. majors would invest billions of dollars
