Exclusive-Vitol gets preliminary US license to begin negotiations on Venezuelan oil imports and exports, four sources say

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Home > Finance > Exclusive-Vitol gets preliminary US license to begin negotiations on Venezuelan oil imports and exports, four sources say

Finance

Exclusive-Vitol gets preliminary US license to begin negotiations on Venezuelan oil imports and exports, four sources say

Published by Global Banking and Finance Review

Posted on January 8, 2026

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Tags:import and export oil and gas financial markets foreign exchange Investment opportunities

Vitol Secures Preliminary License for Venezuelan Oil Negotiations

Vitol's License and Future Operations

By Arathy Somasekhar, Dmitry Zhdannikov and Shariq Khan

Details of the Preliminary License

HOUSTON, Jan 8 (Reuters) - Vitol, one of the world's largest commodity traders, has received a preliminary special license from the U.S. government to begin negotiations to import and export oil from Venezuela for 18 months, four sources said on Thursday.

Impact of U.S. Policy on Venezuela

Vitol would seek to finalize the license and terms under which it can operate in the South American country in the coming days, one source said. Vitol declined to comment.

Market Reactions and Expectations

President Donald Trump's administration has said it wants to control Venezuela's oil sales and revenue indefinitely, after U.S. forces captured President Nicolas Maduro on January 3. Vitol and rival Trafigura are in talks with the Trump administration about the marketing of Venezuelan oil, Reuters reported earlier.

(Reporting by Arathy Somasekhar in Houston, Shariq Khan in New York, and Dmitry Zhdannikov and Julia Payne in Brussels; Editing by David Gregorio)

Frequently Asked Questions about Exclusive-Vitol gets preliminary US license to begin negotiations on Venezuelan oil imports and exports, four sources say

1What is a preliminary license?

A preliminary license is an initial authorization granted by a governing body that allows a company to engage in specific activities, such as negotiations or operations, under certain conditions.

2What is oil import and export?

Oil import and export refer to the buying and selling of crude oil and its derivatives across international borders, which is crucial for global energy supply and trade.

3What is foreign exchange?

Foreign exchange, or forex, is the global marketplace for trading national currencies against one another, facilitating international trade and investment.

4What are financial markets?

Financial markets are platforms where buyers and sellers engage in the trade of assets such as stocks, bonds, currencies, and commodities, influencing the economy.

5What are investment opportunities?

Investment opportunities refer to potential avenues for individuals or entities to invest their capital in various assets or projects with the expectation of generating returns.