WASHINGTON — Dutch energy trading giant Vitol, one of the world’s largest independent commodity traders, has been invited to participate in White House talks with President Donald Trump this week as U.S. policymakers seek to orchestrate a major shift in Venezuela’s oil market and increase global energy access. Vitol will join fellow European trader Trafigura and U.S. oil executives in discussions on how Venezuelan crude could be marketed and sold amid significant geopolitical developments.
The invitation to Vitol comes against the backdrop of renewed U.S. interest in Venezuelan oil following a high-profile U.S. operation in early January that removed Venezuelan leader Nicolás Maduro and set the stage for a reconfiguration of the country’s beleaguered oil industry. As part of broader White House plans, European traders like Vitol — which historically have been major players in transporting and brokering Venezuelan crude — could play a strategic role in handling shipments even as Washington prioritizes American oil company involvement.
Vitol, founded in Rotterdam and now headquartered in Geneva, operates globally in energy and commodity markets, handling millions of barrels of oil daily and maintaining vast logistics and storage networks, including shipping, terminals and refining assets. The company’s vast trading capacity makes it an attractive partner for large-scale crude redistribution efforts.
Since U.S. sanctions were tightened on Venezuela in 2019, Vitol and other traders have largely pulled back from Venezuelan cargoes, participating only under special temporary licences. The upcoming discussions offer a potential reopening of opportunities as Washington seeks to facilitate exports of between 30 and 50 million barrels of Venezuelan crude to U.S. markets under newly negotiated terms.
Vitol has also reportedly received a preliminary U.S. licence that would allow it to begin formal negotiations to import and export Venezuelan oil over an 18-month period, marking a significant step toward reintegration into the market. While the company has declined to comment publicly on its role, the licence suggests that Washington may be preparing a regulatory framework to accommodate both commodity traders and energy majors.
The Trump administration is also pressing top U.S. oil firms to invest in rebuilding Venezuela’s deteriorated oil infrastructure, although American executives have signalled they will need strong legal and financial guarantees before committing substantial capital. Washington and Caracas have already reached preliminary agreements to export billions of dollars’ worth of crude, but the long-term investment picture remains uncertain.
For Vitol, renewed engagement with Venezuelan oil represents both opportunity and risk. If successful, the company’s logistical capabilities could help facilitate a jump in exports from the South American nation, potentially shaping global crude flows. However, political instability and evolving U.S. policy add layers of complexity to the highly watched effort to re-open Venezuela’s energy sector
Why It Matters for Curaçao and the Caribbean
Venezuela’s crude output has long been a cornerstone of regional trade, and any shift toward increased exports — particularly to the United States — could affect fuel availability, pricing and regional economic ties. Curaçao’s own oil refining and storage infrastructure historically tied to Venezuelan exports could find new relevance as these negotiations progress. Experts warn, however, that the success of U.S.–Venezuelan energy cooperation will depend on political stability and clear legal frameworks to protect investors and trading partners alike.
If the White House talks lead to concrete agreements, companies like Vitol may play a central role in shaping how Venezuelan oil re-enters global markets — a development with implications for global energy flows and regional economies alike.