The White House anticipated that Venezuela could close new deals with the U.S. oil industry this week, amid increasing energy cooperation between Washington and Caracas following the capture of Nicolás Maduro.
Jarrod Agen, executive director of the National Energy Authority at the White House, told CNBC that he expects some of those agreements to be signed by this Wednesday, when the G20 Energy meetings taking place in Houston, Texas, conclude, as reported by EFE.
"That's one of the reasons why President Trump wanted a significant Venezuelan delegation here, to meet with our industry and our secretaries," Agen stated.
The official did not specify which companies would be involved in the potential agreements.
The Venezuelan delegation is led by the Minister of Hydrocarbons, Paula Henao, and the Executive Vice President of PDVSA, Jovanny Martínez, who are participating in bilateral meetings and discussions with representatives of the energy industry.
Although Venezuela is not a member of the G20, it participates in the forum at the invitation of the government of Donald Trump, as confirmed by the White House. Its representatives do not attend the official closed-door ministerial meetings.
The Venezuelan presence in Houston comes just two weeks after Washington announced a comprehensive oil agreement with Caracas, which grants the private company North American Blue Energy Partners (NABEP) rights to exploit 17 fields for 100 years, containing about 65 billion barrels of proven reserves, close to one-fifth of Venezuela's total reserves.
The agreement, signed by Secretary of State Marco Rubio and Secretary of War Pete Hegseth, also includes a 35% participation by the U.S. government in the parent company of NABEP, according to information released by the White House.
The approaches toward Venezuela are taking place as Washington seeks to increase supply and refining capacity amid tensions in the international market. WTI crude oil, the benchmark in the United States, closed at $105.83 per barrel on Tuesday, while U.S. refineries are operating almost at the limit of their available capacity.
The new oil landscape in Venezuela is also particularly significant for Cuba, which for years depended on crude oil supplies from Caracas.
Henao's visit to Houston is at least the third he has made this year, as part of the Venezuelan authorities' efforts to attract foreign investment in the oil sector following the political changes that began in the country in early 2026.
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