Trump claims US oil firms could be 'up and running' in Venezuela within 18 months
US urges its citizens to flee Venezuela amid reports of paramilitaries
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Following a hypothetical military operation removing Nicolás Maduro from power in Venezuela, President Trump claims US oil companies could be operational there within 18 months. He suggests the companies would be reimbursed for their investments by the US government or through revenue generated. Trump believes increased Venezuelan oil production would benefit the US by lowering oil prices. However, analysts are skeptical, citing the need for a stable government, the high costs involved, and the time required to restore Venezuela's oil output. Chevron, the only US firm currently operating in Venezuela, stated it remains focused on employee safety and compliance with regulations. Venezuela possesses the world's largest proven oil reserves, but its production has declined significantly.
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AI-ExtractedOnly one US firm, Chevron, is currently working in Venezuela.
Venezuela has an estimated 303bn barrels of oil, the world's largest proven reserve.
Analysts say it could take tens of billions of dollars and a decade to restore Venezuela's oil output.
US oil industry could be 'up and running' in Venezuela within 18 months after Maduro's removal.
Trump claims American oil companies can fix Venezuela's oil infrastructure.
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