Following the capture of Nicolás Maduro, US President Donald Trump announced authorization for American oil companies to exploit Venezuela's massive oil reserves. These firms will invest billions of dollars to repair damaged infrastructure and generate revenue for the country. The US embargo on Venezuelan oil remains in place for now.
On January 3, 2026, during a press conference in Florida, Donald Trump outlined plans for Venezuela following the capture of President Nicolás Maduro. He stated that major American oil companies, among the world's largest, would head there to invest heavily. "Our very large American oil companies [...] will go there, spend billions of dollars, repair the severely damaged infrastructure, the oil infrastructure, and start generating revenue for the country," he said.
Trump highlighted the poor condition of Venezuelan facilities, calling them "rotten," and promised these investments would provide "a new financial windfall" for the nation. "We will sell a lot of oil," he added, anticipating economic revival through exploiting the massive crude reserves.
This initiative comes amid a US-backed regime change, aiming to open Venezuela's economy to American investors. However, the embargo on Venezuelan oil exports persists, curbing immediate impacts. The announcement follows a major US military operation that toppled Maduro's regime, signaling a geopolitical shift in Latin America.
