Venezuela to Join G20 Energy Summit as US Aims to Tap More Deals

Venezuela is deploying officials to a Group of 20 summit of energy chiefs in Texas this week, underscoring the rapid rapprochement between Washington and Caracas.

The Venezuelan authorities are set to attend the G20 energy ministerial starting Monday in Houston at the invitation of the Trump administration, according to a White House official who asked not to be named because details about the delegation are not yet public.

While the delegation won’t take part in formal closed-door ministerial meetings, representatives from the country are set to attend several bilateral sessions, side events and industry discussions, the official said.

The inclusion in the G20 talks — even though Venezuela is not among the world’s 20 largest economies — is a politically significant move that gives Caracas added visibility, access and diplomatic standing at a premier international energy forum. The move also highlights the Trump administration’s efforts to normalize relations with the Latin American nation and tap its vast energy riches, potentially boosting crude production as Middle East conflicts strain global oil flows.

President Donald Trump has exhorted oil companies to step up production in Venezuela, following the US capture of its longtime leader Nicolás Maduro in January, and his administration has encouraged greater mineral development under interim President Delcy Rodríguez.

Trump just announced a sweeping oil deal giving the US a 35% equity position in North American Blue Energy Partners — and a right to buy 20% of its crude production at cost from oil fields in Venezuela estimated to contain some 65 billion barrels of proven reserves.

Venezuela’s hydrocarbons minister, Paula Henao, is slated to attend along with Jovanny Martínez, executive vice president of state-owned Petroleos de Venezuela SA, or PDVSA, the official said.

As president of this year’ G20 assembly of the world’s major economies, the US has latitude to invite non-member countries to participate as guests in meetings — a power it has already used to widen the tent.

For instance, Poland took part in recent G20 finance and innovation ministerials in North Carolina, even though it’s not a permanent member of the forum. When the finance ministers convened, they included Russia’s Anton Siluanov, despite opposition from European officials.

A delegation from Russia is also set to participate in the energy ministerial, Marat Berdyev, the ambassador who oversees G20 matters, said on Telegram. A White House official confirmed Russia’s attendance.

The Venezuelan participation in Houston this week reflects the Trump administration’s belief that the country needs to be involved in global discussions on energy abundance and security, the White House official said.

And because Houston is widely considered the energy capital of the world — home to oil and mining firms in talks over potential business in Venezuela — the country’s presence at the ministerial could help facilitate more dealmaking.

The ministerial is set to focus on energy security, abundance and access. All of those topics dovetail with Trump’s focus on expanding oil and gas development.