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Vitol Plans to Open Venezuela Office With 12 Staff, Bets on U.S.-Venezuela Oil Deal Extension

2026-07-08 01:53:10

According to three people familiar with the matter, Geneva-based commodity trader Vitol is preparing to establish an office in Venezuela, reported by Jin10 on July 8. The move signals confidence in the continuation of the U.S.-Venezuela oil agreement reached earlier this year. The planned Caracas office will initially employ approximately 12 people, primarily in trade-related roles. Vitol and other traders have been exporting the majority of Venezuela's oil output under agreements with the state-owned Petroleos de Venezuela (PDVSA).

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