Archive · 23 Aug 2025
Trump Halts Oil Approvals for Non-US Majors in Venezuela
The US government, under Trump, is making it difficult for oil companies from other countries to work in Venezuela.
This means companies like Repsol, Eni, and Maurel & Prom are waiting to get permission.
However, a US company called Chevron is still allowed to operate there.
This is because the government is trying to balance different goals: being tough on Venezuela while also trying to keep energy prices down.
The situation is complicated because some people in the government have different ideas about how to handle it.
The Trump administration is withholding approval for non-US oil majors seeking to operate in Venezuela.
This decision puts companies like Repsol SA, Eni SpA, and Maurel & Prom in limbo.
Chevron Corp. is still allowed to work in Venezuela.
The policy reflects a balancing act in Washington with competing geopolitical, financial, and energy considerations.
The Treasury Department granted approval for Chevron to resume producing and exporting Venezuelan oil.
- Who
- The Trump administration, Chevron Corp., Repsol SA, Eni SpA, Maurel & Prom.
- What
- The Trump administration is withholding approval for non-US oil majors seeking to operate in Venezuela.
- When
- Since the return of Trump to office.
- Where
- Venezuela
- Why
- To ramp up pressure on Nicolás Maduro’s government and balance geopolitical, financial, and energy considerations.
Hawkish Approach
Business Interests
Policy Approach
Hawkish Approach
Advocates for a stricter approach to Venezuelan oil.
Business Interests
Supports US business interests and a more receptive strategy.
- Companies Affected
- Repsol SA, Eni SpA, Maurel & Prom
- US Company Permitted
- Chevron Corp.
- Government Involved
- Trump administration, Treasury Department, State Department
- Location
- Venezuela