Vitol’s Venezuela Oil Windfall Traced to Trader’s Ties to JD Vance

U.S. Energy Secretary Chris Wright reached out to Vitol's John Addison on January 5, just two days after the U.S. intervention that ousted Nicolás Maduro. In a call, Wright inquired if Vitol was interested in selling Venezuela's crude oil. In response, Vitol and Trafigura were granted special licenses to market the Venezuelan oil, bypassing the usual competitive bidding process due to the urgency of stabilizing Venezuela's economy.

Addison, a prominent Vitol trader, had made financial contributions to JD Vance's political campaigns. The exact amount he gave in 2022 was $300,000 to a PAC backing Vance's Ohio Senate campaign, while his $7 million donation in 2024 included $5 million to the Make America Great Again PAC. A U.S. official disclosed that Vance had introduced Addison to Energy Secretary Wright at least a year before the January 5 call.

Evidence shows Addison's private jet and Vance's aircraft shared the same hangar at Bozeman airport on December 27, the day Vance attended a Yellowstone Club event in Montana, where Addison is constructing a residence. A source familiar with Addison's statements says Vance inquired about the speed with which Venezuelan crude could be sold.

Both Addison's representative and Vance's office deny the existence of such a meeting. The Energy Department stated that there was no discussion between Vance, Wright, and Vitol regarding the oil sales, asserting that Vitol was selected because of its status as the world's largest energy trading entity. Vitol and Trafigura maintain they were unaware of the military operation in advance.

Venezuela has exported more than 200 million barrels of oil this year, but Vitol and Trafigura have not disclosed the terms of their agreements with the state-owned PDVSA. In March, Addison stepped down from his position at Vitol to chair Wright's energy policy advisory board. Representative Robert Garcia, who will become the Democratic chair of the House Oversight Committee, wrote to the CEOs of Vitol and Trafigura in January seeking information on how they obtained their licenses.

He expressed concern, stating that "the latest reporting raises even more questions about who knew what and when."