Trump to send high-level mission to Venezuela: Jarrod Agen to lead key oil and mining deals

The Trump administration continues consolidating its strategy of energy dominance in the hemisphere. The executive director of the National Energy Dominance Council (NEDC), Jarrod Agen, will travel to Venezuela this Thursday to lead a high-level delegation seeking to seal strategic agreements with the oil and mining sectors.

The White House confirmed the news after an initial report by POLITICO, noting that the mission aims to rebuild economic ties and facilitate unprecedented investments that will positively impact both the U.S. and Venezuelan economies.

"Thanks to President Trump's bold leadership, the United States and Venezuela are restoring our partnership, rebuilding economic ties and facilitating unprecedented investments that will benefit both the American and Venezuelan people," White House spokeswoman Taylor Rogers said in an official statement.

Strategic alliance with industry giants

The delegation led by Agen will meet in Caracas with executives from internationally renowned companies. Among the confirmed attendees are representatives of the Texan oil company Hunt Oil, the European companies Repsol and Eni, and the oil services company Halliburton. Officials from the state-owned Petroquímica de Venezuela will also participate.

The main objective of these meetingsis the signing of memorandums of understanding that will allow U.S. and foreign companies to operate in Venezuelan fields which, for more than a decade, were closed after the nationalizations of the previous regime.

Although these agreementswill not result in an immediate increase in production, the U.S. government is confident that they will lay the groundworkfor increasing the global supply of crude oil in the coming years. This is seen as vital to alleviating bottlenecks in the commodities markets that have affected economic stability.

Mining and energy price control.

The trip also puts the spotlight on Venezuela's mining sector, an industry which has suffered years of instability and lack of investment due to Chavismo's policies. Agreements related to gold, aluminum and possibly coal mining are expected to be presented. These agreements would include commitments to supply directly to the United States.

This diplomatic and economic offensive occurs in a context of high pressure on energy prices in the U.S. domestic market. The price of oil reached $107 this Wednesday, driven by the war conflict between Israel and Iran, which has practically paralyzed tanker traffic through the Strait of Hormuz.

Currently, the average price of regular gasoline in the US stands at $4.23 per gallon, which represents a significant increase since late February. The Trump administration has promoted increased exports of Venezuelan crude oil as a key tool to moderate these costs.

Alex Fitzsimmons, acting undersecretary of energy, stressed at a conference in Washington that oil production in Venezuela "has already begun to increase."

However, he recalled that the total reconstruction of the South American country's electrical and industrial infrastructure, now under the interim government of President Delcy Rodriguez, remains a long-term project that requires clear rules and competitive processes.