Trump Proposes Rapid Recovery for Venezuela's Oil Industry Post-Maduro

Thu Jan 08 2026 12:11:37 GMT+0200 (Eastern European Standard Time)

In a bold statement, President Trump claims the U.S. oil industry could fully resume operations in Venezuela within 18 months following the recent military ousting of President Maduro.

President Trump forecasts that American oil companies could restore operations in Venezuela within 18 months after the removal of President Nicolás Maduro. He emphasizes the financial investments needed from the companies while expressing ambitions for U.S. oil interests in the country. Analysts remain skeptical about the feasibility and impact of these plans on global oil markets, citing potential challenges surrounding Venezuela's political stability and the need for extensive infrastructure investment.

President Donald Trump says the US oil industry could be up and running with increased operations in Venezuela within 18 months, following a surprise military operation that removed President Nicolás Maduro from power.

Trump told NBC News that a tremendous amount of money will have to be spent, and the oil companies will spend it, and then they'll get reimbursed by us or through revenue. Representatives from major US petroleum companies are set to meet the Trump administration later this week, as reported by CBS News.

Analysts had previously estimated it could take tens of billions of dollars and potentially a decade to restore Venezuela's oil production to its former levels.

The President's remarks came just days after indicating the US would run Venezuela following Maduro's ousting. Speculating that oil production might increase in less than 18 months, Trump also underscored the importance of Venezuela being an oil producer for stabilizing oil prices in the US.

However, analysts have expressed skepticism regarding the effectiveness of Trump's plans, suggesting that firms might hesitate to invest without a stable government in place, and any significant production increases would take years to realize.

Trump maintains that restoring Venezuela's oil industry could yield substantial benefits for the US, especially since the country holds the world's largest oil reserves, estimated at 303 million barrels, despite current production levels being a fraction of that.

Increasing production would greatly depend on investments from US companies, which face the challenge of refining Venezuela's heavy oil, with Chevron being the only major US firm currently operating there.

In defending the US intervention in Venezuela, Trump claimed that Maduro had stolen American oil, a narrative echoed by Vice President JD Vance. Yet, experts clarify that the oil is owned by the Venezuelan government, with companies allowed to extract and commercialize it under license agreements.