US EditionTrump's Venezuela Oil Plan Faces $100B Cost, Decade Timeline
Trump said U.S. oil firms will invest billions to repair Venezuela's oil infrastructure after capturing Maduro, aiming to unlock underused reserves and sell crude abroad.
- On Saturday, President Donald Trump said US oil companies would spend billions to fix Venezuela's broken oil infrastructure and that the United States would temporarily run the country.
- Following years of sanctions and underinvestment, Venezuela's petroleum sector collapsed, leaving PDVSA's infrastructure in poor condition after sanctions imposed by Washington in 2017 and earlier policy shifts.
- Investors pushed up oil and defense stocks Monday as Chevron, ExxonMobil, ConocoPhillips, oilfield services, Gulf Coast refiners, and Palantir gained.
- Despite the headlines, Brent Crude traded at $60.62 and West Texas Intermediate at $57.12, both off earlier lows, while the administration said the oil embargo remains in place and Maduro was taken to New York on narcotics charges.
- Venezuela's proven reserves total 303 billion barrels, but current production is 1 million barrels per day, requiring substantial investment, UBS analyst Giovanni Staunovo warned.
530 Articles
530 Articles
Trump’s plans to plunder Venezuela’s oil
Within 24 hours of the outrageous Jan. 3 U.S. attack on Venezuela — with the kidnapping of its socialist leaders President Nicolás Maduro and Cilia Flores on phony drug smuggling charges — President Donald Trump blurted out the truth. Speaking to reporters on Air Force One, Trump boasted: “We need t
3 U.S. Oil Stocks That Could Benefit From President Donald Trump's Actions in Venezuela
Key PointsThe removal of Maduro and potential U.S. involvement could revamp Venezuela's struggling oil sector, making it easier for U.S. oil companies to do business in the country.Venezuela is believed to have around 300 billion barrels of oil reserves.Yet the country only produces about 1% of the world's global supply.10 stocks we like better than Chevron › President Donald Trump may have changed the trajectory of Venezuela and the broader geo…
A Venezuela oil revival could set up winners — and losers — in US energy
Venezuela is home to the world’s largest oil reserves, but its energy industry has been battered by decades of underinvestment, sanctions, and political instability. Jose Bula Urrutia/UCG/Universal Images Group/Getty Images Investors are betting on new investment in Venezuela’s battered oil sector after the US raid over the weekend. A surge in Venezuelan oil could squeeze smaller US shale producers, analysts warn. Heavier Venezuelan crude may b…
Trump says he’ll unleash Venezuela’s oil. But who wants it?
Shortly after launching a dramatic raid in which U.S. forces abducted Venezuelan leader Nicolás Maduro on Saturday, President Donald Trump justified the action with a promise to revive Venezuela’s moribund oil industry. The country has by far the largest claimed reserves of crude oil in the world, accounting for almost a fifth of the world’s remaining known crude oil, but its production has plummeted under Maduro, who has ruled the country since…
How Maduro Sealed His Own Fate
On January 3, American forces kidnapped Venezuelan dictator Nicolás Maduro and bombed multiple sites across the country, killing around 40 people. Hours later, President Trump spoke of “running Venezuela” and paying for a prospective occupation with Venezuelan oil. Critics of US imperialism are…
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