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News · VenezuelaThe first million barrels of Venezuelan oil arrive in Texas, and Trump calls it a gift
Two tankers unloaded in Corpus Christi the first crude from the deal signed in August. The US will sell it to Exxon and Citgo. What the deal says and what is still unknown.
Translated from the original Spanish article. Read in Spanish
News published on October 29, 2026. The situation may have changed since then.
Oil from Venezuela is reaching the United States again. On Tuesday, October 27, 2026, two tankers brought one million barrels of Venezuelan crude to Corpus Christi, Texas.
A gift, according to Trump
Donald Trump and Secretary of State Marco Rubio visited the port. Trump called the shipment a "gift" and promised more barrels would follow.
The oil was sent by North American Blue Energy Partners (NABEP), the company that signed the deal with Washington. The White House says it cost taxpayers nothing.
Some sources say the crude was valued at around 30 dollars a barrel, far below the market price.
What the deal says
The deal was announced in August 2026, after the fall of Nicolás Maduro, with the interim government of Delcy Rodríguez. According to the press:
The US can buy 20% of what NABEP produces at cost.
It also gets 35% of NABEP's parent company.
In exchange, NABEP gets 100-year rights over 17 Venezuelan oil fields, holding about 65 billion barrels.
Who buys it
The US government will sell the crude to Exxon Mobil and Citgo refineries. An official admitted that refining capacity may limit the effect on gasoline prices.
What is unknown
It is still unclear how much Venezuela earns, when the next shipments will arrive, or why the 100-year rights were granted without a tender.
To learn more about the country, read [how María Corina Machado's return to Venezuela went](maria-corina.html).
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Sources (in Spanish)
- Llegada, acuerdo y compradores: The Rio Times y ChemAnalyst.
- El petrolero Angerona y la empresa NABEP: EnergyNews.
Photos are from Wikimedia Commons under free licenses; the author and license are shown under each image.
