China bought ‘legitimate’ Venezuelan oil from US after Maduro seizure, energy secretary says

In January 2026, President Trump stated his intention to exploit Venezuela's vast oil reserves following the capture of its leader, Nicolás Maduro. Trump indicated that the aggressive U.S. actions were necessary to curb drugs and migration from that country. He claimed American companies would benefit, with profits also reimbursing the U.S. for damages caused by Venezuela. Trump suggested the country's oil wealth was a key factor in his decision to attack, and pledged that the United States would "run" Venezuela for the foreseeable future. While Venezuela holds the world's largest oil reserves, analysts caution that significantly increasing production could be a lengthy and expensive process.

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.

According to a news report published on January 8, 2026, US oil companies ExxonMobil and ConocoPhillips have been lobbying for regime change in Venezuela for years. The report alleges that Donald Trump informed these companies before deploying the military against Venezuelan President Nicolas Maduro. The article suggests the motivation behind Trump's actions in Venezuela was related to the country's oil reserves. The location of these events is Venezuela and the United States. The report implies that the US's interest in Venezuelan oil is a key factor driving US foreign policy in the region.

The Trump administration is reportedly planning meetings with US oil company executives to discuss increasing Venezuelan oil production following the abduction of Nicolas Maduro. These meetings are considered crucial for re-establishing US oil company operations in Venezuela, which were nationalized nearly two decades ago. However, Exxon Mobil, ConocoPhillips, and Chevron have stated they have not yet had discussions with the administration, contradicting Trump's claims. Boosting Venezuelan oil production would require significant investment and time, despite the country holding the world's largest oil reserves and having crude oil compatible with US refineries. The White House has not commented on the upcoming meetings.

At least sixteen sanctioned oil tankers have departed Venezuelan ports, seemingly in defiance of a U.S. blockade imposed in December 2025. The tankers, previously tracked via satellite, left after President Maduro's capture by U.S. forces. Some are using deceptive tactics, such as falsifying ship names and locations, while others have ceased broadcasting signals to avoid detection. The U.S. blockade aims to prevent Venezuela from generating revenue through oil exports, with exceptions for American company Chevron. U.S. forces have already confronted and seized one tanker, while others are being pursued. The tankers' actions may represent a challenge to the interim government's authority.

In January 2026, the US government, under President Donald Trump, declared its intention to control Venezuelan oil sales indefinitely to force political changes in Venezuela. This announcement followed the abduction of Venezuelan leader Nicolas Maduro and a deal for Venezuela to turn over a significant amount of sanctioned oil to the US. Energy Secretary Chris Wright stated the US needs leverage over Venezuelan oil. Oil company executives are scheduled to meet with President Trump to discuss potential investments in Venezuela. While experts suggest the US government has the power to intervene, geopolitical challenges exist, particularly with the rise of China as a global power, potentially limiting US influence compared to previous interventions like in Iraq.

Following the capture of Nicolás Maduro, President Trump aims to dramatically increase oil production in Venezuela, which holds the world's largest oil reserves. Trump envisions US oil companies investing billions to revitalize Venezuela's oil infrastructure, potentially exceeding previous production levels. Experts warn that significantly increasing Venezuela's oil output would have severe climate consequences, adding substantial carbon dioxide to the atmosphere. Even a moderate production increase to 1.5 million barrels a day would generate emissions exceeding those of entire countries like the UK and Brazil. While Trump claims the US will be reimbursed for its investment, major oil companies have not yet committed to the plan.