U.S. President Donald Trump declared at a press conference held on Saturday at his Mar-a-Lago estate in Palm Beach, Florida, that American oil corporations would inject billions of dollars into Venezuela's energy sector following the collapse of Nicolás Maduro's regime. "We will bring in the biggest U.S. oil companies—the world's top oil giants—to invest billions in Venezuela, fixing its dilapidated oil infrastructure," Trump stated. "We are going to start generating revenue for the country," Trump added. Venezuela, a founding member of OPEC, possesses the world's largest proven oil reserves. According to data from energy consultancy Kpler, Chevron Corporation currently operates in this South American nation, with crude oil exports averaging approximately 140,000 barrels per day in the fourth quarter of 2025. U.S. military forces launched a large-scale nighttime operation in Venezuela, successfully apprehending Maduro and his wife, Cilia Flores. Both have been charged with drug trafficking by the U.S. District Court for the Southern District of New York. Chevron stated in a release, "The company always prioritizes the safety and well-being of its employees and the integrity of its assets." The oil giant emphasized, "We will continue to operate in strict compliance with all applicable laws and regulations." Media outlets have reached out to ExxonMobil for further comment. Trump asserted that the United States would "assume governance of Venezuela until a secure, proper, and prudent transition of power is completed." He indicated that a U.S. "team" would implement temporary control, though he provided no specific details. A crude oil tanker is docked on Lake Maracaibo near the city of Maracaibo in Zulia state, Venezuela. The downfall of the Maduro regime follows months of U.S. military buildup in the Caribbean region. Trump noted that his prior oil embargo on Venezuela "remains fully in effect." Trump pointed out that oil companies would bear the costs of rebuilding Venezuela's crude infrastructure themselves. "Their investments will be duly compensated," Trump said. "We will restore Venezuela's oil production to its rightful level," he claimed. "We will sell large quantities of oil to other nations; many already use Venezuelan oil, and more will join." In 1976, Venezuela nationalized its oil industry, expropriating assets from international oil majors and establishing the state-owned oil company, Petróleos de Venezuela, S.A. (PDVSA).
Kpler oil analyst Matt Smith noted that Venezuela's crude production peaked in the late 1990s at approximately 3.5 million barrels per day, before declining sharply. Kpler data indicates Venezuela's current crude production averages about 800,000 barrels per day. In contrast, U.S. crude production stood at roughly 13.8 million barrels per day for the week ending December 26, 2025. Andy Lipow, President of Lipow Oil Associates, stated that Russia currently holds interests in Venezuela's oil sector. He highlighted that the Maduro government had approved a 15-year extension last November for joint venture agreements with Russian-related companies in Venezuelan oil fields. Lipow suggested that with power in Caracas unclear, crude buyers might hesitate due to uncertainty over payment, potentially halting the country's oil exports entirely. However, he added that Chevron would likely continue its exports, mitigating supply disruptions. "I am indeed concerned about the security situation—or lack thereof—which could impact oil production facilities, infrastructure, and export operations," the analyst wrote in a report to clients on Saturday. Kpler analyst Smith stated that the current crude market is oversupplied, "which will help cushion the impact of any potential future supply disruptions." In 2025, the international crude market experienced its largest annual decline in five years. The international benchmark Brent crude fell about 19% for the year, while U.S. West Texas Intermediate (WTI) crude dropped nearly 20%. This pressure stemmed from OPEC+ increasing output after years of cuts, coupled with record-high U.S. oil production.
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