After months of lobbying in the oil industry, Trump supports Maduro's deputy taking over Venezuela: She knows oil best

The months of lobbying by the global oil industry have finally paid off. According to CCTV News, on January 5th local time, Venezuelan Vice President Delcy Rodríguez was sworn in as the acting president of Venezuela.

According to media reports on the 6th, Trump officially expressed his support for Rodríguez to temporarily lead Venezuela during a press conference on Saturday, directly criticizing opposition leader María Corina Machado for lacking "respect." Regarding this decision, Secretary of State and National Security Advisor Marco Rubio stated that the U.S. would focus more on Rodríguez's actual actions rather than her words.

With Rodríguez being sworn in as acting president on Monday, oil companies with significant interests in Venezuela are urging Washington to quickly ease sanctions. The market generally bets that this technocrat, who previously served as oil minister, can restore U.S. business interests faster than the opposition and is expected to promote the restructuring process of the country's approximately $60 billion debt.

Although Rodríguez has publicly condemned U.S. actions, she has begun consolidating power privately and sending signals of easing to the U.S. On Sunday, she publicly invited the U.S. to establish a "cooperative agenda," a pragmatic shift seen as a key signal of her attempt to restart the national economy under the oil blockade.

The Collective Choice of the Oil Industry

As the U.S. has intensified threats against the Maduro regime in recent months, a group of executives, lawyers, and investors closely tied to the oil industry have begun lobbying the Trump administration and Congress to push for Maduro's long-time second-in-command, Rodríguez, to take over. These industry insiders have told the media that as a former oil minister, Rodríguez has long been the preferred contact for senior executives, and her ability to handle international sanctions, economic pressures, and internal management chaos has left a deep impression on the industry.

Although major U.S. oil giants like Chevron did not directly participate in the lobbying due to not being informed of the actions in advance, the broader industry consensus is that despite Rodríguez's loyalty to the Maduro regime, she is in a more advantageous position than opposition leader Machado to quickly stabilize Venezuela's oil-based economy and facilitate the return of U.S. business interests.

According to media reports citing informed sources, Trump's inner circle has independently reached the same conclusion. Rodríguez not only controls the lifeblood of Venezuela's oil but also has deep connections within the existing socialist government structure, aligning with U.S. needs for stability.

Hans Humes, CEO of Greylock Capital Management and a member of the Venezuelan Sovereign Debt Creditor Committee, pointed out in an interview with Bloomberg Television that Trump is taking a huge gamble that, if successful, could "reshape the global energy landscape." He reiterated the private views of oil executives:

"If you want to find someone who can operate under reasonable conditions, look for the one who has operated under the worst conditions."

The Interest Game of the Giants

For Venezuela, which has one of the largest hydrocarbon reserves in the world, time is of the essence. According to media reports citing informed sources, the country began shutting down some oil wells in late December due to stock depletion caused by sanctions, and further production cuts could jeopardize economic recovery. Therefore, oil companies with interests in the region are eager for the Trump administration to ease sanctions to ensure that Rodríguez can deliver results.

Chevron is seen as one of the biggest beneficiaries of the recovery of the country's oil industry, and the company stated that its operations in the region are ongoing and compliant. Additionally, ConocoPhillips, which is owed about $10 billion in arbitration awards, may also recover its debts by returning to the country. International giants such as Shell, Spain's Repsol, Italy's Eni, and France's Maurel et Prom SA also hold potential or existing projects here, waiting for opportunities to restart.

The 56-year-old Rodríguez is a key figure in Maduro's inner circle, having previously headed the Ministry of Foreign Affairs and set to become the Minister of Oil in 2024, responsible for addressing corruption issues at the state oil company (Petróleos de Venezuela SA). She comes from a leftist political family and has shown a strong pragmatic approach in handling financial matters.

According to media reports citing sources, in the weeks leading up to Maduro's arrest, Rodríguez closely monitored the debt situation and relations with American oil giants during meetings with financial advisors. Kimberly Breier, former Assistant Secretary of State for Western Hemisphere Affairs, commented that the White House's endorsement is a "very clear realist approach," although it also means dealing with a regime figure with a human rights record