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Trump says India will start buying Venezuelan oil as industry sees major overhaul
Posted
February 2, 2026
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13:09Now PlayingWe learned last week that Venezuela's acting President Delcy Rodriguez is working to overhaul the nation's oil sector. Her plan largely revolves around reversing years of policy promoted by the socialist movement that has ruled the country for more than two decades. Rodriguez is looking to open Venezuela's top industry to increased privatization from countries around the world. LiveNOW's Andy Mac is discussing the future of Venezuela, specifically its people and oil, with Politico energy reporter James Bikales.
On Jan. 10, Trump hosted nearly two dozen top oil and gas executives at the White House. He said American energy companies will invest $100 billion to rebuild Venezuela’s "rotting" oil infrastructure and push production to record levels.
The new law from acting President Rodriguez says that a private company "will assume full management of the activities at its own expense, account, and risk, after demonstrating its financial and technical capacity through a business plan approved by" Venezuela's Oil Ministry, according to the Associated Press.
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