US EditionUS not currently considering using Venezuelan oil in exchange to fill strategic reserve, Energy Department says
The swap plan could refill over 300 million barrels in the Strategic Petroleum Reserve by exchanging Venezuelan heavy crude for U.S. medium sour barrels, easing logistical challenges.
- On 1/16/26 the U.S. Department of Energy was reported to be weighing a plan to swap heavy Venezuelan oil for U.S. medium sour crude to refill the Strategic Petroleum Reserve, Reuters said.
- The SPR was designed to hold medium and heavy sour barrels while much U.S. output is light, sweet shale, creating a logistical mismatch that has complicated refill efforts; EIA data show inventories just under 400 million barrels with over 300 million still to fill.
- Arranging a crude-for-crude swap would place Venezuelan barrels in commercial tanks at the Louisiana Offshore Oil Port while U.S. producers deliver medium sour crude into SPR caverns, but such exchanges are uncommon and logistically complicated.
- The DOE has yet to publicly comment on the plan as Texas Representative August Pfluger urged discounted Venezuelan barrels to refill the SPR, while experts warn sulfur-rich crude could damage Louisiana infrastructure.
- Buying hundreds of millions of barrels outright would cost tens of billions, but the U.S. oil market has abundant production yet lacks the right oil in the right place, so slow-walking purchases risks turning the Strategic Petroleum Reserve into a permanent half-empty museum exhibit.
14 Articles
14 Articles
US not currently considering using Venezuelan oil in exchange to fill strategic reserve, Energy Department says
The U.S. government is not currently considering using Venezuelan oil in an exchange with U.S. oil companies to refill the country's Strategic Petroleum Reserve, the Department of Energy said on Friday.
Video - The world's leading producer of crude oil, however, the United States continues to import it. A paradox that is explained by a key point: for the American economy, the issue is not only the volume available but also the quality of the oil.
Trump Admin Considers Venezuelan Oil Swap to Fill Strategic Petroleum Reserve.
PULSE POINTSWHAT HAPPENED: The Trump administration is considering an agreement to exchange heavy Venezuelan oil for U.S. medium-sour crude to fill the U.S. Strategic Petroleum Reserve (SPR).WHO WAS INVOLVED: The U.S. Department of Energy, President Donald J. Trump, U.S. oil companies, and Venezuela.WHEN & WHERE: The proposal was first reported on Friday, January 16, 2026.IMPACT: The oil swap would be used to fill the SPR with ready-to-use Ameri…
U.S. Secretary of Energy Chris Wright reported on Friday that his country is acting “as fast as it can” to grant Chevron an extended license to increase its oil production in Venezuela and sell all the crude oil generated in the country. Currently, the Houston-based company pays the Venezuelan government its royalties and taxes with oil in kind, limiting its export capacity to about 50% of the production. The new license will allow Chevron to co…
The U.S. Begins Selling Venezuelan Oil
The United States has completed its first government-backed sale of Venezuelan crude oil worth roughly $500 million, a move that signals a dramatic shift in control over one of the world’s largest petroleum reserves following recent US intervention in the country, according to reporting from CNN. Administration officials confirmed that additional oil sales are already […] The post The U.S. Begins Selling Venezuelan Oil appeared first on Wonderfu…
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