Trump admin in talks with major US oil companies to quickly ramp up Venezuelan crude production – report

By Reuters 24 January 2026, 4:02 pm

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The United States is in talks with Chevron, other crude producers, and major oilfield service providers about a plan to quickly raise Venezuela’s crude production, Bloomberg News reports, citing senior administration officials.

Officials have discussed deploying SLB, Halliburton and Baker Hughes to repair and replace outdated equipment, and refresh older drilling sites, the report says.

Reuters could not immediately verify the report.

Additionally, according to US President Donald Trump, the US has taken the oil that was on seized Venezuelan tankers earlier this month, and will process it in American refineries, the president tells the New York Post in an interview published earlier today.