Trump-Linked Companies Rush to Secure Deals for Venezuela Oil Fields
- Companies with close ties to the administration of United States President Donald Trump are rushing to secure oil deals in Venezuela, according to an investigative report published by...
- Among the entities advancing talks is Houston-based Sable Offshore, which is negotiating contracts with the Venezuelan government to develop oil fields, according to two sources familiar with the...
- The corporate rush comes as the interim administration in Caracas advances legislative changes intended to open up the petroleum and mining sectors to foreign capital.
Companies with close ties to the administration of United States President Donald Trump are rushing to secure oil deals in Venezuela, according to an investigative report published by the Financial Times. The renewed corporate push follows a major shift in the South American nation’s energy sector after the capture of Nicolás Maduro in January and the installation of Delcy Rodríguez as the country’s leader.
Sable Offshore and Primavera Target Venezuelan Oil Fields
Among the entities advancing talks is Houston-based Sable Offshore, which is negotiating contracts with the Venezuelan government to develop oil fields, according to two sources familiar with the discussions cited by the Financial Times. Sable maintains recent personnel ties to Washington. Brittany Kelm, the company’s vice president of policy and commercial affairs, worked until August as a senior advisor to the U.S. National Energy Dominance Council, serving as a liaison between the White House and the oil and gas industry. Kelm posted a photograph on LinkedIn earlier in the year standing alongside Delcy Rodríguez with a statement expressing support for Venezuelan economic growth through U.S. investment. Sable did not respond to requests for comment from reporters. At the same time, Primavera, an energy firm co-founded by former Coinbase president Fred Ehrsam, signed an agreement on a Wednesday to develop a Venezuelan oil field, as reported by the Financial Times. Ehrsam donated one million dollars to Trump’s 2025 inaugural fund and was appointed in March as an advisor to the President’s Council of Science and Technology. In May, Ehrsam attended an event hosted by the president of the Banco de Venezuela, where he highlighted investment opportunities in the country. Like Sable, Primavera did not respond to requests for comment.
Broader Economic Shift and Independent Energy Pacts
The corporate rush comes as the interim administration in Caracas advances legislative changes intended to open up the petroleum and mining sectors to foreign capital. These individual corporate contracts operate independently from a larger agreement secured by the Trump administration to control 65,000 million barrels of Venezuelan oil through a joint venture with North American Blue Energy Partners, a private oil firm owned by businessman Alejandro Betancourt, according to Financial Times reporting.
U.S. officials have openly supported the commercial opening. U.S. Energy Secretary Chris Wright stated, Trump wanted to see the transformation in Venezuela and in relations between the United States and Venezuela happen as quickly as possible,
according to the Financial Times. The White House is eager to demonstrate progress in Venezuela, particularly as conflicts in Iran drive up domestic gasoline prices inside the United States. Meanwhile, Chevron announced a commitment to invest 7,000 million dollars to expand in Venezuela, following earlier memorandums of understanding signed by firms such as Hunt Oil Company and Ross Perot Jr.’s HKN Energy.
