Trump: US companies to invest in Venezuela

TheStar Mon, Jan 05, 2026 12:00am - 5 days View Original


Rebuilding effort: An oil refinery in Puerto Cabello, Venezuela. The country currently produces around 800,000 barrels of oil a day, about just 1% of global output. — AP

Washington: President Donald Trump says US oil companies will spend billions of US dollars to rebuild Venezuela’s crumbling energy infrastructure after a military operation that led to the capture of Nicolas Maduro, the country’s former leader.

During a press conference last Saturday at his Mar-a-Lago estate in Florida, Trump described an ambitious vision to use US financial resources and industry know-how to restore the South American nation’s oil sector to its former glory.

“We’re going to have our very large US oil companies – the biggest anywhere in the world – go in, spend billions of US dollars, fix the badly broken infrastructure – the oil infrastructure – and start making money for the country,” Trump said.

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