Beyond Venezuela: Where does the oil the state imports come from?

Donald Trump's latest decisions don't just target tariffs. The US president has also targeted oil, particularly oil bearing a Venezuelan stamp. Trump has revoked Repsol's and other oil companies' permits to export crude oil and derivatives from Venezuela to the rest of the world. The decision has activated diplomatic channels due to the potential economic impact it could have on the company chaired by Antoni Brufau. Last week, in the midst of the trade war, Foreign Minister José Manuel Albares discussed the matter with US Secretary of State Marco Rubio, according to ministry sources. In 2024, Repsol produced 67 million barrels per day in the country, with a significant portion of the crude supplied by the Venezuelan state oil company PDVSA as payment in kind for the country's debt to the Spanish company. Its equity exposure in the country was €504 million, according to the financial report for that year. But to what extent does Trump's decision affect the arrival of oil to the country?

Donald Trump's latest decisions don't just target tariffs. The US president has also targeted oil, particularly oil bearing a Venezuelan stamp. Trump has revoked Repsol's and other oil companies' permits to export crude oil and derivatives from Venezuela to the rest of the world.

The decision has activated diplomatic channels due to the potential economic impact it could have on the company chaired by Antoni Brufau. Last week, in the midst of the trade war, Foreign Minister José Manuel Albares discussed the matter with US Secretary of State Marco Rubio, according to ministry sources. In 2024, Repsol produced 67 million barrels per day in the country, with a significant portion of the crude supplied by the Venezuelan state oil company PDVSA as payment in kind for the country's debt to the Spanish company.

Its equity exposure in the country was €504 million, according to the financial report for that year. But to what extent does Trump's decision affect the arrival of oil to the country?.