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How can Trump profit from Venezuela's "STUNNING" oil wealth?

2026-01-05 10:24:15Kosova&Bota SHKRUAR NGA REDAKSIA VOX
How can Trump profit from Venezuela's "STUNNING" oil wealth?
Donald Trump

Following Nicolás Maduro's removal from power, Washington's attention has focused on one of Latin America's most strategic assets, Venezuela's oil.

US President Donald Trump has stated that a US involvement in the Venezuelan energy sector could generate " a tremendous amount of wealth ", both for the reconstruction of the country and for compensating American companies damaged by past nationalizations.

Venezuela holds about 17% of global oil reserves, more than any other country in the world.

However, production has declined dramatically over the past decade due to corruption, mismanagement, and lack of investment.

The promise of openness to private capital

Before the recent political developments, opposition leader María Corina Machado had presented an ambitious plan to reopen the oil industry to international private capital.

It promised privatization, auctions of PDVSA (the state oil company) assets, legally protected contracts, and oversight by institutions like the World Bank .

Although Machado appears to have been sidelined politically, her vision for exploiting the country's energy wealth remains relevant in the new geopolitical context, the Financial Times reports.

What does the US gain?

The return of Venezuelan oil to the US market would have several strategic benefits.

Energy security : Venezuela's heavy oil is ideal for Gulf of Mexico refineries, built decades ago for precisely this type of oil.

Reducing dependence on Canada:  Canadian oil imports to the US have tripled in recent years.

Pressure on China : China is currently the main buyer of Venezuelan oil. American control over the supply would limit Beijing's influence in the region.

US Secretary of State Marco Rubio has been blunt: the US will not allow the Western Hemisphere to serve as a base for its strategic rivals.

Who benefits more?

Experts emphasize that the main beneficiaries should be Venezuelans themselves.

The collapse of the oil industry has devastated the country's economy, fueling mass emigration and extreme poverty.

Increasing exports would bring fiscal revenue, economic stability, and reduce migratory flows, an argument that finds echoes in American politics.

Companies on hold

Chevron is seen as the American company best positioned to expand, thanks to its continued presence in Venezuela and deep knowledge of the terrain.

Meanwhile, ExxonMobil and ConocoPhillips are seeking about $10 billion in compensation for assets seized in the 2000s and remain reserved for a possible return.

European companies such as Repsol (Spain), Eni (Italy) and Maurel & Prom (France) are also considering similar options, the Financial Times reports.

Real obstacles

The road to recovery is long.

The industry needs tens, if not hundreds of billions of dollars in investment.

The companies are demanding strong legal guarantees, political stability and a break from the past practices of PDVSA , which has a poor reputation on safety and the environment.

Furthermore, Venezuela needs to return to international financing markets after the 2017 sanctions, with borrowing costs expected to be high due to risk.


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