The Venezuelan government, led by Delcy Rodríguez, has been invited as a special participant to the G20 ministerial meetings on "energy abundance," which kicked off on Monday in Houston, Texas, as confirmed by the White House.
Although Venezuela is not a member of the G20, its attendance highlights the new energy axis that Washington aims to establish in the Western Hemisphere following the capture of Nicolás Maduro.
The gathering, running through Wednesday, brings together delegations from the world's 20 largest economies, including China, India, Japan, Germany, Canada, and Saudi Arabia. It was convened under the U.S. presidency of the G20, with the main summit scheduled for December in Miami.
Venezuela’s invitation to the Houston energy forum, despite not being part of the bloc, is interpreted by the EFE agency as a sign of the diplomatic shift Caracas has undertaken since early this year.
Strategic Shift in Global Energy Dynamics
U.S. Interior Secretary Doug Burgum elaborated on the strategic aim of the meeting in an interview with Fox Business, stating, "We have all the G20 countries here, in addition to Venezuela. The goal is to shift the geopolitical center of oil away from the Middle East—with all its uncertainties—to the Western Hemisphere."
According to Bloomberg, the Venezuelan delegation is headed by Paula Henao, Minister of Hydrocarbons, and Jovanny Martínez, Executive Vice President of PDVSA. Both are attending bilateral meetings, parallel events, and industrial forums rather than the formal ministerial sessions.
Historical Oil Agreements and Economic Implications
The rapprochement between Washington and Caracas accelerated after Maduro's capture by U.S. forces on January 3, 2026.
In late August, Trump announced a historic oil deal with Venezuela, granting 100-year concessions over 17 Venezuelan oil fields to North American Blue Energy Partners (NABEP), with reserves estimated at 65 billion barrels.
Under this agreement, the Pentagon's Office of Strategic Capital acquired a 35% stake in NABEP's parent company, and the U.S. secured the right to purchase 20% of the production at cost price. Rodríguez hailed the agreement as a "historic milestone."
The Houston meeting takes place amid heightened tensions in global energy markets. Since the U.S. and Israel attacked Iran in February 2026, Brent crude has surpassed $100 per barrel, and the average diesel price in the U.S. hit a record $6.2 per gallon, as reported by the American Automobile Association, compared to $3.70 before the conflict.
Political and Economic Challenges Loom
This pressure on prices complicates supply in Europe and poses a growing political cost for Trump, whose Republican Party fears a setback in the November 2026 midterm elections. Burgum emphasized that the discussions in Houston will focus on increasing production and refining, contrary to the shutdowns seen during Biden's presidency.
The presence of Russian officials at the event also stirred discontent among Ukraine's European allies, who had already voiced disappointment when Russian Finance Minister Anton Siluanov attended a G20 meeting two weeks earlier.
Washington's strategy to prioritize access to energy resources over traditional geopolitical considerations is deepening tensions with its Atlantic bloc partners.
Frequently Asked Questions on Venezuela's Involvement in the G20 Energy Meeting
Why was Venezuela invited to the G20 energy meeting?
Venezuela was invited as a special participant to reflect Washington’s aim to establish a new energy axis in the Western Hemisphere, despite not being a G20 member.
What are the implications of the U.S.-Venezuela oil agreement?
The agreement grants significant concessions to North American Blue Energy Partners, with strategic stakes for the U.S., aiming to secure a stable energy supply and shift geopolitical focus to the Western Hemisphere.
How has the energy market been affected by recent geopolitical events?
Following conflicts involving the U.S. and Iran, energy prices surged, with Brent crude exceeding $100 per barrel and diesel prices reaching record highs, impacting supply and political landscapes globally.