Trump Awards $250M Venezuelan Oil Deal to Megadonor’s Company
The Trump administration awarded its first sale of Venezuelan crude oil to Vitol, the world’s largest independent oil trader, in a deal worth approximately $250 million. John Addison, a senior Vitol trader who secured the contract, donated $6 million to Trump-aligned political action committees during the 2024 election cycle, including $5 million to MAGA Inc in October 2024, according to donor records compiled by OpenSecrets.
Addison attended a White House meeting with Trump and oil industry executives days before the agreement was finalized, where he represented Vitol alongside Ben Marshall, the company’s U.S. head—making Vitol the only firm with two senior officials present. During the meeting, Addison told Trump that Vitol would work to secure the best possible price for Venezuelan oil sold by the United States, and Trump responded positively to the suggestion.
Vitol stated that Addison’s political donations were made in a personal capacity and unconnected to the company’s business dealings. The White House dismissed any ethical concerns through spokesperson Taylor Rogers, characterizing media scrutiny as a “tired attempt to distract” and claiming Trump acts in Americans’ best interests by brokering the Venezuelan oil deal following Nicolás Maduro’s arrest.
The administration plans to offload as much as 50 million barrels of Venezuelan crude oil under U.S. control and intends to dominate Venezuela’s oil industry “indefinitely” following Maduro’s capture. Energy Secretary Chris Wright announced that the United States sold Venezuelan crude at prices 30 percent higher than Maduro’s government achieved weeks earlier, when U.S. sanctions forced Venezuela to accept steep discounts.
The oil industry provided substantial campaign funding to Trump during 2024, with executives meeting at his Mar-a-Lago estate where Trump promised to roll back industry regulations in exchange for campaign support. The administration has stated it will require the “majority” of Venezuelan oil under U.S. control to be sold to American buyers.