Overview
- The White House said interim Venezuelan authorities will hand over 30 to 50 million barrels of sanctioned oil to the United States.
- Coverage reports a U.S. military operation led to the detention of Nicolás Maduro, and President Trump urged American oil companies to restart extraction in Venezuela.
- Industry experts say major firms remain wary due to political risk and decades-long investment horizons, with Rystad estimating $8–9 billion annually for 14 years to rebuild output.
- Venezuelan crude is predominantly extra-heavy with high sulfur and low hydrogen, requiring costly diluents, upgrading and complex refining that raise costs and emissions.
- Chevron is the only U.S. operator still in-country, contributing about 27% of national production, and analysts expect any short-term supply or price effects to be limited given current market conditions.