Trump Celebrates “Extraordinary Relations” with Venezuela and Oil Progress After High-Level Visit
By ANASTACIO ALEGRIA
**WASHINGTON / CARACAS, February 12 (IPU NEWS)** — US President **Donald Trump** said Thursday that relations between Washington and Caracas are at an “extraordinary moment” following progress in oil cooperation with Venezuela, amid intense diplomatic efforts to revive the country’s energy industry. ([Univision][1])
Trump made the remarks on his Truth Social platform, highlighting the diplomatic rapprochement with Venezuelan interim president **Delcy Rodríguez** and the beginning of an energy cooperation process that is already starting to materialize in the flow of Venezuelan crude. “The oil is starting to flow, and large amounts of money, unseen in many years, will soon greatly benefit the Venezuelan people,” the president wrote. (Univision[1])
Trump's remarks come a day after a visit to Caracas by US Energy Secretary Chris Wright, who met with Rodríguez and senior Venezuelan government officials to discuss a roadmap for energy cooperation that includes the exploration, production, and export of oil, gas, and electricity. (El País[2])
High-Level Visit and Energy Agreements
Wright's visit, considered the highest-level visit by a US official to the South American country in nearly three decades, included a tour of the Petro Independencia facilities, a joint venture located in the strategic Orinoco Oil Belt—a vast region that holds most of Venezuela's crude oil reserves—alongside Rodríguez. (El País[2])
In addition to meetings at Miraflores Palace, the Energy Secretary met with executives from companies such as Chevron and other industry players with the aim of encouraging investment and increasing energy production. To date, Chevron is the only U.S. company involved in oil projects in Venezuela, with several contracts that combine participation with the state-owned PDVSA. ([Diario Libre][3])
Liberalization and Regulatory Framework
The diplomatic rapprochement coincides with the easing of U.S. sanctions that had limited the presence of U.S. companies in the Venezuelan oil sector. Washington has issued licenses that allow the exploration, production, refining, and export of crude oil under supervision, in an effort to revitalize the industry.
At the same time, the Venezuelan Parliament approved reforms to the Organic Hydrocarbons Law, significantly opening the sector to private and foreign investment with the aim of attracting the capital and technology necessary for its recovery after years of declining production.
Political and Economic Implications
Experts point out that energy cooperation, although announced with optimism by both capitals, will face operational and political challenges given the extent of the deterioration of Venezuela's oil infrastructure and the historical tensions between the governments. However, the United States has presented the agreement as part of its strategy to exert influence in the region and ensure energy security for the Western Hemisphere. (Energy Connects[4])
Trump also emphasized that any representation in oil negotiations is conducted exclusively through officials authorized by the State Department, disavowing any unofficial intermediaries mentioned in some media outlets. (Univision[1])
The resumption of oil operations and the first steps toward foreign investment are presented as a key element in the attempt to stabilize the Venezuelan economy and, at the same time, strengthen trade ties with the United States in a sector that is strategic for both nations.
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