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, had 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 mentioned U.S. oil corporations will make investments billions of {dollars} in Venezuela’s vitality sector after the overthrow of President Nicolas Maduro.
“We will have our very massive United States oil corporations — the largest wherever on the earth — go in, spend billions of {dollars}, repair the badly damaged infrastructure, the oil infrastructure,” Trump mentioned in a press convention from his Mar-a-Lago residence in Palm Seashore, Florida.
“Let’s begin getting cash for the nation,” Trump mentioned.
Venezuela, a founding member of OPEC, sits on the biggest confirmed oil reserves on the earth. Chevron operates within the South American nation, exporting about 140,000 barrels per day within the fourth quarter of 2025, based on information from vitality 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 mentioned in a press release that it “stays targeted on the protection and wellbeing of our staff, in addition to the integrity of our belongings.”
“We proceed to function in full compliance with all related legal guidelines and laws,” the oil main mentioned. CNBC has reached out to Exxon Mobil for remark.
Trump mentioned the U.S. will “run the nation till such time as we will do a secure, correct and even handed transition.” The president mentioned 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 Photographs
The overthrow of Maduro comes after a months-long U.S. navy buildup within the Caribbean. Trump mentioned the embargo he imposed on Venezuelan oil “stays in full impact.”
The president mentioned 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 mentioned.
“We will get the oil flowing the way in which it needs to be,” he mentioned. “We’ll be promoting massive quantities of oil to different international locations, a lot of whom are utilizing it now, however I’d say many extra will come,” he mentioned.
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 Photographs
Venezuela’s manufacturing peaked at 3.5 million barrels per day within the late Nineteen Nineties, however has declined considerably since then, mentioned Matt Smith, oil analyst at Kpler.
The nation’s present manufacturing stands at round 800,000 barrels per day, based on Kpler information. 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, mentioned Andy Lipow, president of Lipow Oil Associates. The Maduro regime in November accredited a 15-year extension of joint ventures with Russian-linked corporations working fields in Venezuela, Lipow mentioned.
