After the military operation and the capture of Venezuelan president Nicolása Maduro (63), president of the United States Donald Trump announced the return of large oil companies to the country. However, experts believe that it may be many years before oil production in Venezuela increases significantly. Even if American companies invest billions, as Trump promised, they will be hindered by damaged infrastructure, safety concerns and political instability, Reuters analysts claim.
Moreover, sanctions should be abolished first and national law changed to let abroad investment. "If Trump succeeds in changing the regime, Venezuelan exports could increase with the abolition of sanctions and abroad investment returns," he said. Saul Kavonic from the Australian analytical company MST Marquee. Energy strategy Thomas O’Donnell He besides considers the peaceful transformation to be crucial: "Then there will be a crucial increase in oil production in 5 to 7 years," he said. However, failed transformation can lead to years of resistance.
Venezuela has the world's largest oil reserves. According to the London Energy Institute, Venezuela has 303 billion barrels, accounting for about 17 percent of the world's reserves and thus surpassing the leader of OPEC, Saudi Arabia.
Most deposits are dense oil from the Orinoko Belt in central Venezuela. According to the U.S. Department of Energy, its extraction is costly, but technically comparatively simple.
China is the main customer
States United States were erstwhile the main recipient of Venezuelan oil. However, since the imposition of sanctions, over the last decade, the main recipient has become China Export has been halted since US president Donald Trump announced in December 2025 the blockade of all ships entering or leaving the country.
Of the American corporations, Chevron would be most susceptible to reopening due to the fact that it is the only large American oil company inactive operating in that country. However, ConocoPhillips will most likely be peculiarly curious in returning. The company inactive has claims worth over $10 billion after nationalization nearly 2 decades ago, he said Francisco Monaldi from the Baker Institute at Rice University.
Will past repeat itself?
However, past shows that specified engagement does not necessarily benefit American companies, warned the energy expert Ed Hirs from the University of Houston. "The United States has not benefited from oil during government changes in Iraq and Libya. I fear that past will repeat itself in Venezuela."
Venezuela is simply a founding associate of the Organisation of Petroleum Exporting Countries (OPEC). Oil production in this country has fallen from 3.5 million barrels a day in the 1970s to about 1.1 million barrels a day recently.
Foreign investors are involved
Venezuela nationalised its oil manufacture in the 1970s, setting up Petroleos de Venezuela SA (PdVSA). In the 1990s, the country took steps to importantly open the sector to abroad investment.
After selection Hugo Cháveza In 1999, Venezuela granted PdVSA a majority share in all oil projects. PdVSA formed joint venture companies to increase production – including partnerships with Chevron, China National Petroleum Corporation, Eni, full and Russian Rosnieft.
