Venezuela's acting president meets Trafigura to discuss cooperation

Venezuela's acting president, Delcy Rodríguez, held discussions with a delegation from Trafigura, a prominent Singapore-based commodities multinational with significant ties to the oil sector. The meeting, which took place at the Miraflores Palace in Caracas, focused on exploring areas of cooperation and addressing "topics of mutual interest" in trade.

According to Prensa Presidencial, the talks were conducted "in line with strategic development and international cooperation policies." While specific details of the discussions were not disclosed, the meeting involved key Venezuelan officials, including the Minister of Hydrocarbons, Paula Henao; the Minister of Economy and Finance, Anabel Pereira Fernández; and the president of the state-owned oil company Petróleos de Venezuela (PDVSA), Héctor Obregón.

Trafigura, founded in 1993, stands as one of the world's largest commodity trading companies. It is recognized as the biggest private trader of metals and the second-largest oil trader globally, with major regional hubs in Geneva, Houston, Montevideo, and Mumbai. The company specializes in managing intricate supply chains for minerals, metals, and energy, transporting them from their origin to their final destination.

This engagement follows recent reports of U.S. officials negotiating with Venezuela's state mining company, Minerven, for a potential multi-million dollar deal to sell up to a ton of gold to the U.S. market. Additionally, Venezuela's parliament, under Chavista control, unanimously approved a new mining law in April, opening the sector to private and foreign investment, partly in response to U.S. interest in Venezuelan gold.