Trump Envisions Rapid U.S. Oil Revival in Venezuela Post-Maduro

Thu Jan 08 2026 01:09:29 GMT+0200 (Eastern European Standard Time)

President Donald Trump has stated that U.S. oil companies could reinstate operations in Venezuela within 18 months, following a military operation that removed Nicolás Maduro from power. The remarks underscore a renewed U.S. interest in tapping into Venezuela's vast oil reserves.

In a recent interview, President Trump expressed confidence that U.S. oil firms could be operational in Venezuela within 18 months after a military intervention ousted Nicolás Maduro. While he emphasizes the potential for extracting wealth from Venezuela's oil reserves, experts caution that significant investment and stability are needed for meaningful production. The discussion reflects the broader geopolitical implications of U.S. energy strategy in the region.

President Donald Trump says the US oil industry could be up and running with increased operations in Venezuela within 18 months, after a surprise military operation removed President Nicolás Maduro from power.

Trump told NBC News that a tremendous amount of money will have to be spent, and the oil companies will spend it, and then they'll get reimbursed by us or through revenue.

Representatives from major US petroleum companies are scheduled to meet the Trump administration later this week, according to CBS News.

Analysts previously indicated it could take tens of billions of dollars and potentially a decade to restore Venezuela's former oil output.

Trump's assertions follow his comments that the US would run Venezuela post-Maduro's ousting – the former president has since been brought to the US to face criminal charges.

Regarding the 18-month timeline, Trump speculated on the potential for quicker oil production, albeit with hefty financial commitments required. He articulated his vision for American petroleum companies to expand operations within the country, arguing that a productive Venezuela is beneficial for the US by helping stabilize oil prices.

However, analysts who previously spoke with the BBC expressed skepticism about the immediate impact of Trump's plans on global oil supplies and pricing, suggesting that firms would first require assurances of governmental stability before making significant investments, which may take years to yield results.

Trump has asserted that US oil companies can rehabilitate Venezuela’s oil infrastructure, despite the current production being a fraction of its estimated 303 million barrel reserve. The country, historically the world's largest oil reserve holder, has experienced production declines since the early 2000s.

However, substantial production increases will be costly for US companies, particularly as Venezuelan oil is heavier and thus more challenging to refine. Currently, Chevron is the only major US firm operating in Venezuela.

A Chevron spokesperson stated that while the company is focused on employee safety and asset integrity, they remain compliant with all laws and regulations. Other major firms like Exxon and ConocoPhillips have yet to respond to requests for comments on the situation.

Following Maduro's removal, Trump also justified the military action by claiming Venezuela unilaterally seized and stole American oil. This narrative has been echoed by Vice President JD Vance on social media, citing that Venezuela exploited American oil properties to amass wealth for illicit activities.

Energy law experts have pointed out the complexities of ownership in this context, clarifying that oil found within Venezuela is state-owned and subject to contractual agreements with petroleum companies.

Notably, Venezuela nationalized its oil industry in 1976, with more state control enacted during Hugo Chavez's presidency in 2007 regarding foreign-owned assets.