US EditionVenezuela's oil is at the heart of Trump's ambitions
Trump aims for US oil majors to invest billions in Venezuela's vast reserves despite sanctions and collapsed production, with output under 1% of global supply, OPEC data shows.
6 Articles
6 Articles
The U.S. government wants to resurrect Venezuela's maraudous oil industry, but that is only a goal of President Trump.
Trump's Venezuela oil ambitions clash with reality
The United States' military actions in Venezuela have triggered significant geopolitical shockwaves. Despite US President Donald Trump's rhetoric about "managing" Venezuela through a transitional period, the broader oil market is widely expected to remain largely unaffected, with no major disruption anticipated.
Venezuela is the country with the largest oil reserves in the world. After Maduro's arrest, Trump said that American oil companies would invest there. But there is one thing he doesn't say.
Trump's plan to revive Venezuela's oil industry is expected to be a years-long and challenging project.
The US president is promising a large-scale and costly reconstruction of Venezuela's oil industry. But the plan is being met with skepticism from many quarters.
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