Overview
- U.S. forces captured President Nicolás Maduro and his wife, and Trump said oil revenues would reimburse costs as American companies repair Venezuela’s energy infrastructure.
- Sanctions and a partial tanker blockade remain in place, with a U.S. embargo on Venezuelan crude still active even as plans to restore production are outlined.
- Venezuela holds about 303 billion barrels of proven reserves yet produces roughly 1.0–1.1 million barrels per day, mostly heavy crude suited to U.S. Gulf Coast refineries.
- Chevron is the only major U.S. producer currently operating under restricted licensing, while ExxonMobil and ConocoPhillips face unresolved claims and weigh political and contractual risks.
- Experts project a multi‑year timeline and tens to around one hundred billion dollars to lift output materially, with limited near‑term market impact and new legal questions over control of national resources.