Vitol's Venezuela Oil Windfall Linked to JD Vance Ties
U.S. officials say Vitol’s access to Venezuelan crude followed a call from Energy Secretary Chris Wright to trader John Addison, a backer of JD Vance.
Vitol and fellow trader Trafigura secured special U.S. licenses to market Venezuelan crude after Energy Secretary Chris Wright contacted Vitol gasoline trader John Addison on Jan. 5, two days after the U.S. operation that ousted Nicolás Maduro, Reuters reported. The call came after Addison, who contributed $300,000 to a political action committee backing Ohio Senate candidate JD Vance in 2022, was identified as a financial backer of Vance’s 2024 campaign. Addison and his wife donated $7 million to political action committees in 2024, including $5 million to the Make America Great Again group.
Political Connections
Instant Telegram notifications for large on-chain moves.
Addison’s jet and Vance’s plane were recorded at Bozeman airport on Dec. 27, the day Vance visited Montana’s Yellowstone Club where Addison is building a home. A source familiar with Addison’s account said Vance asked how quickly Venezuelan crude could be sold, though both Addison and Vance’s office deny any meeting took place. The Energy Department later said Vance and Wright never discussed Venezuelan oil sales and that Vitol was chosen because it is the world’s largest energy trader.
Licensing and Export Volumes
Within days of the Jan. 5 call, Vitol and Trafigura received special licenses to market Venezuelan oil, bypassing competitive bidding. Venezuela has exported more than 200 million barrels this year, but the traders declined to disclose the terms of their agreements with state oil company PDVSA. Addison retired from Vitol in March and now chairs Wright’s energy‑policy advisory board.
Congressional Scrutiny
Rep. Robert Garcia, incoming Democratic chair of the House Oversight Committee, wrote to Vitol and Trafigura in January requesting details on how the licenses were secured, noting that the reporting “raises even more questions about who knew what and when.”
Key facts
- U.S. Energy Secretary Chris Wright called Vitol trader John Addison on Jan. 5.
- Addison gave $300k to a PAC backing JD Vance in 2022 and $7 million to PACs in 2024.
- Vitol and Trafigura received special licenses days after the call.
- Venezuela exported >200 million barrels of crude in 2024.
- Rep. Robert Garcia has asked the traders for licensing details.
Source: news.google.com
This article is for information only and is not investment advice. BullishMarketCap news is produced with AI assistance from public sources and reviewed by our editors; see our editorial policy. Spotted an error? Tell us.
