Vitol’s Venezuela Oil Windfall Traced to Trader’s Ties to JD Vance

AI Summary

Vitol and Trafigura received special licenses to market Venezuelan crude shortly after a U.S. operation removed Nicolás Maduro. The report says Energy Secretary Chris Wright contacted Vitol trader John Addison, a political donor with ties to Vice President JD Vance, and that the administration bypassed competitive bidding to move quickly.

U.S. Energy Secretary Chris Wright called Vitol gasoline trader John Addison, an early financial backer of Vice President JD Vance, on January 5, two days after the U.S. operation that removed Nicolás Maduro, and asked whether Vitol wanted to sell Venezuela’s crude, Reuters reported on Wednesday. Within days, Vitol and Trafigura received special licenses to market Venezuelan oil. The administration skipped competitive bidding, citing the need to move fast to stabilize Venezuela’s economy. Addison gave $300,000 in 2022 to a political…