U.S. President Donald Trump holds a press convention as Secretary of Protection Pete Hegseth seems to be at him following a U.S. strike on Venezuela the place President Nicolas Maduro and his spouse, Cilia Flores, have been captured, from Trump’s Mar-a-Lago membership in Palm Seashore, Florida, U.S., January 3, 2026.
Jonathan Ernst | Reuters
President Donald Trump on Saturday stated U.S. oil firms will make investments billions of {dollars} in Venezuela’s power sector after the overthrow of President Nicolas Maduro.
“We’ll have our very giant United States oil firms — the largest 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 Seashore, 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 response to 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 prices within the Southern District of New York.
Chevron stated in an announcement that it “stays targeted on the protection and wellbeing of our staff, in addition to the integrity of our property.”
“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 additional remark.
Trump stated the U.S. will “run the nation till such time as we are able to do a protected, correct and even handed transition.” The president stated the U.S. will quickly run Venezuela “with a gaggle,” 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 Pictures
The overthrow of Maduro comes after a monthslong U.S. army buildup within the Caribbean. Trump stated the embargo he imposed on Venezuelan oil “stays in full impact.”
The president stated oil firms pays instantly for the price of rebuilding Venezuela’s crude infrastructure. “They are going to be reimbursed for what they’re doing,” Trump stated.
“We’ll get the oil flowing the best way it ought to be,” he stated. “We’ll be promoting giant quantities of oil to different international locations, lots of whom are utilizing it now, however I might say many extra will come,” he stated.
Venezuela nationalized its oil trade in 1976, seizing property 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 Pictures
Venezuela’s manufacturing peaked at 3.5 million barrels per day within the late 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 response to Kpler knowledge. Comparatively, 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 authorized a 15-year extension of joint ventures with Russian-linked firms working fields in Venezuela, Lipow stated.
Lipow stated Venezuela’s oil exports may come to an entire halt since it’s unclear who’s in cost within the capital metropolis of Caracas, with patrons possible not sure to whom they need to ship cash. Chevron will possible persevering with exporting, mitigating any provide impression, Lipow stated.
“I do surprise concerning the safety (or lack thereof) state of affairs on the bottom and the way it may impression oil manufacturing amenities, infrastructure, and exports,” the analyst stated in a Saturday word to shoppers.
Kpler analyst Smith stated an oversupplied oil market “will assist cushion the blow of any additional provide disruptions.”
The oil market in 2025 posted its largest annual decline in 5 years. World benchmark Brent fell about 19% final yr, whereas U.S. crude oil misplaced almost 20%. The market has been underneath stress as OPEC+ ramped up manufacturing after years of output cuts. The U.S. has additionally produced at report ranges.
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