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U.S. President Donald Trump holds a press convention as Secretary of Protection Pete Hegseth appears to be like at him following a U.S. strike on Venezuela the place President Nicolas Maduro and his spouse, Cilia Flores, had been captured, from Trump’s Mar-a-Lago membership in Palm Seaside, Florida, U.S., January 3, 2026.
Jonathan Ernst | Reuters
President Donald Trump on Saturday stated U.S. oil corporations will make investments billions of {dollars} in Venezuela’s power sector after the overthrow of President Nicolas Maduro.
“We will have our very massive United States oil corporations — the most important wherever on the planet — go in, spend billions of {dollars}, repair the badly damaged infrastructure, the oil infrastructure,” Trump stated in a press convention from his Mar-a-Lago residence in Palm Seaside, Florida.
“Let’s begin earning money for the nation,” Trump stated.
Venezuela, a founding member of OPEC, sits on the most important confirmed oil reserves on the planet. Chevron operates within the South American nation, exporting about 140,000 barrels per day within the fourth quarter of 2025, in keeping with knowledge from power consulting agency Kpler.
U.S. forces captured Maduro and his spouse, Cilia Flores, in a large-scale assault on the South American nation in a single day. They have been indicted on drug-trafficking fees within the Southern District of New York.
Chevron stated in an announcement that it “stays targeted on the security and wellbeing of our workers, in addition to the integrity of our belongings.”
“We proceed to function in full compliance with all related legal guidelines and rules,” the oil main stated. CNBC has reached out to Exxon Mobil for remark.
Trump stated the U.S. will “run the nation till such time as we will do a protected, correct and considered transition.” The president stated the U.S. will quickly run Venezuela “with a bunch,” with out offering particulars.
A crude oil tanker is anchored on Lake Maracaibo close to Maracaibo, Zulia state, Venezuela, on December 18, 2025.
Alejandro Paredes | Afp | Getty Photos
The overthrow of Maduro comes after a months-long U.S. navy buildup within the Caribbean. Trump stated the embargo he imposed on Venezuelan oil “stays in full impact.”
The president stated oil corporations can pay straight for the price of rebuilding Venezuela’s crude infrastructure. “They are going to be reimbursed for what they’re doing,” Trump stated.
“We will get the oil flowing the way in which it needs to be,” he stated. “We’ll be promoting massive quantities of oil to different international locations, lots of whom are utilizing it now, however I’d say many extra will come,” he stated.
Venezuela nationalized its oil business in 1976, seizing belongings from worldwide oil majors to create the state-owned Petróleos de Venezuela S.A. (PDVSA).
A motorbike rider passes in entrance of an oil-themed mural in Caracas, Venezuela on September 01, 2022.
Nurphoto | Nurphoto | Getty Photos
Venezuela’s manufacturing peaked at 3.5 million barrels per day within the late Nineteen Nineties, however has declined considerably since then, stated Matt Smith, oil analyst at Kpler.
The nation’s present manufacturing stands at round 800,000 barrels per day, in keeping with Kpler knowledge. For the week of Dec. 26, the U.S. produced round 13.8 million barrels per day.
China and Russia have a presence in Venezuela’s oil sector, stated Andy Lipow, president of Lipow Oil Associates. The Maduro regime in November permitted a 15-year extension of joint ventures with Russian-linked corporations working fields in Venezuela, Lipow stated.
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