Washington / Caracas — Breaking News
Former US President Donald Trump has announced that Venezuela’s interim authorities are expected to transfer between 30 and 50 million barrels of oil to the United States, following a recent US-led military intervention that resulted in the removal of President Nicolás Maduro from power.
According to Trump, the oil — estimated to be worth around $2.8 billion at current market prices — will be sold commercially, with proceeds managed by the US government.
He stated that the funds would be used to support both the Venezuelan people and American interests.
Trump: Oil Deal Will Benefit Both Nations
In a statement shared on his social media platform, Trump said Venezuela’s interim leadership had agreed to hand over the oil as part of a broader political and economic transition.
He added that the US energy sector would begin restoring Venezuela’s oil industry rapidly, claiming that American oil companies could be fully operational in the country within 18 months. Trump also argued that increased Venezuelan production would help stabilise global oil prices, benefiting US consumers.
Global Reaction and China’s Objection
The announcement has drawn strong criticism from China, which has been one of Venezuela’s largest oil customers in recent years.
Beijing described the US move as a violation of international law and an infringement on Venezuela’s sovereignty.
Chinese officials also rejected reports that Washington had demanded exclusive access to Venezuelan oil while pressuring Caracas to cut economic ties with China, Russia, Iran, and Cuba.
Oil Experts Raise Doubts
Energy analysts remain sceptical about the feasibility of Trump’s timeline.
Industry experts say that reviving Venezuela’s oil sector would require tens of billions of dollars in investment and could take many years, not months.
Venezuela holds the world’s largest proven oil reserves, estimated at over 300 billion barrels, but production has steadily declined since the early 2000s due to underinvestment, sanctions, and infrastructure decay.
Additionally, Venezuelan crude is heavy and difficult to refine, limiting the number of US companies capable of processing it efficiently.
US Oil Companies Respond Cautiously
Only Chevron currently maintains limited operations in Venezuela.
A company spokesperson said Chevron remains focused on employee safety and compliance with all applicable laws.
Other major firms, including ConocoPhillips and ExxonMobil, have either withdrawn from Venezuela or expressed caution, stating that it is too early to speculate on future investments.
Legal and Sovereignty Questions
Trump and senior US officials have claimed that Venezuela previously seized American oil assets.
However, experts note that the issue is legally complex.
Venezuela nationalised its oil industry in 1976, and later expanded state control under President Hugo Chávez in 2007.
While international tribunals have ruled that compensation is owed to some US companies,
analysts stress that natural resources legally belong to the sovereign state under international law.
Political Analysis
Observers say Trump’s announcement reflects a broader strategy to reshape US influence in Latin
America while countering China’s economic footprint in the region.
However, without long-term political stability in Venezuela and broad international recognition of
its interim government, experts warn that large-scale oil investments may remain uncertain.
As global energy markets watch closely, the question remains whether this ambitious plan can translate into real production — or whether it will face legal, political, and economic roadblocks.
This report is independently written, reformulated for publication, and suitable for SEO-focused news platforms.
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