Trump Unveils US-Led Plan To Rebuild Venezuela’s Oil Sector

US President Donald Trump announced a plan on Friday for the United States to directly oversee the revival of Venezuela’s ‘dilapidated’ oil industry.

Speaking to senior oil and gas executives at the White House, Trump said the initiative would allow major American oil firms to rebuild Venezuela’s energy infrastructure under agreements authorised by Washington. This approach bypasses direct negotiations with Venezuelan authorities.

Trump confirmed that Venezuela had already shipped 30 million barrels of oil to the United States. He valued the consignment at around $4 billion. “That’s a lot of oil. It’s on its way to the United States right now,” he said.

He added that US companies would invest at least $100 billion of private capital to reconstruct Venezuela’s oil infrastructure. “They don’t need government money, but they need government protection and security,” he said. He highlighted that investors had previously avoided Venezuela because guarantees were lacking.

Vice President JD Vance noted that the operation to apprehend Venezuelan leader Nicolas Maduro had reshaped the regional energy and security landscape. He emphasised that the mission succeeded without any American casualties.

Secretary of State Marco Rubio explained that the initiative would move forward in phases. It will start with stabilisation and direct revenue from Venezuelan oil sales towards American goods and supplies.

Impact on US Energy Prices

Trump said the plan would reduce fuel costs for American consumers. Gasoline prices have recently hovered between $1.92 and $1.99 per gallon, compared with over $4 in previous years.

He also emphasised that US refineries have the capacity to process Venezuelan heavy crude efficiently. This supply would complement record domestic production.

Energy Secretary Chris Wright added that earlier sanctions had failed to stop Venezuelan oil from reaching global markets. Instead, the sanctions deprived Venezuelans of economic benefits.

Trump framed the initiative as a strategic move to prevent China and Russia from dominating Venezuela’s energy resources. “If we didn’t do this, China or Russia would have been there,” he said.

Rubio and Wright pointed out that the previous regime had turned Venezuela into a platform for hostile actors. This situation had undermined US security interests and regional stability.

Trump stressed that the US would use its military and economic influence to control Venezuelan oil without prolonged conflict. He said this approach ensures that Washington’s strategic interests in Latin America remain protected.

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