After months of lobbying by the oil industry, it has finally come true! Trump supports Maduro’s deputy to take over Venezuela: She understands oil the best.

The months-long lobbying effort by the global oil industry has finally paid off. According to CCTV News, on January 5 local time, Venezuelan Vice President Delcy Rodríguez was sworn in as Acting President of Venezuela.

According to media reports on the 6th, Trump officially expressed support at a Saturday press conference for Rodríguez to temporarily lead Venezuela, and bluntly stated that opposition leader María Corina Machado lacked "respect." Regarding this decision, Secretary of State and National Security Advisor Rubio said that the United States 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 huge interests in Venezuela are urging Washington to quickly ease sanctions. Markets broadly bet that this former oil minister, a technocrat, will be able to restore U.S. commercial interests faster than the opposition and could accelerate the restructuring of the country's roughly $60 billion debt.

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

The Collective Choice of the Oil Industry

As the U.S. has stepped up 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 promote Maduro’s longtime deputy Rodríguez as successor. These insiders told media that as a former oil minister, Rodríguez has long been the preferred contact person for senior management, and her ability to handle international sanctions, economic pressure, and internal management chaos has left a deep impression on the industry.

Although major U.S. oil giants like Chevron were not directly involved in lobbying due to not being informed in advance, the broader industry consensus is: despite Rodríguez’s loyalty to the Maduro regime, she is in a more favorable position than opposition leader Machado to quickly stabilize Venezuela’s oil-based economy and facilitate the return of American commercial interests.

According to media citing informed sources, Trump’s inner circle has independently reached the same conclusion. Rodríguez not only controls Venezuela’s oil lifeline but also has deep connections in the existing socialist government structure, meeting U.S. demands for stability.

Hans Humes, CEO of Greylock Capital Management and member of Venezuela’s Sovereign Debt Creditors Committee, said in a Bloomberg TV interview that Trump is taking a huge gamble, and if successful, could “reshape the global energy landscape.” He reiterated private views held by oil executives:

“If you want someone who can operate under reasonable conditions, find the one who has operated under the worst conditions.”

The Interest Game of Industry Giants

For Venezuela, which has one of the world’s largest hydrocarbon reserves, time is of the essence. According to media reports citing insiders, due to the blockade depleting inventories, the country started shutting down some oil wells in late December, and further shutdowns would threaten economic recovery. Therefore, oil companies with interests there are anxiously hoping the Trump administration will relax sanctions to ensure Rodríguez can deliver results.

Chevron is seen as one of the biggest potential beneficiaries of the country’s oil industry revival and states its local operations remain ongoing and compliant. In addition, ConocoPhillips, owed some $10 billion in arbitration awards, could potentially recover its debt by re-entering 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 there, waiting for opportunities to restart.

Rodríguez, 56, is a key figure in Maduro’s inner circle, previously headed the Foreign Ministry and was appointed Oil Minister in 2024, tasked with cleaning up corruption at state oil company Petróleos de Venezuela SA. She comes from a leftist political family and has shown strong pragmatism in handling financial affairs.

Media reports, citing sources, state that in the weeks before Maduro’s arrest, Rodríguez met with financial advisors, paying close attention to the country’s debt status and relations with U.S. oil giants. Former U.S. Assistant Secretary of State for Western Hemisphere Affairs Kimberly Breier commented that the White House’s endorsement is a “very clear act of realism,” though it also means dealing with a regime figure tainted by human rights issues.

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