U.S. Oil Giants Set to Enter Venezuela Following Maduro's Capture

President Donald Trump announced plans for American oil companies to invest in Venezuela following Nicolás Maduro's capture. The move aims to revamp Venezuela's oil industry. Despite Chevron's current operations, experts warn massive investments and long-term commitments are needed. A U.S. embargo on Venezuelan oil remains enforced.

President Donald Trump announced that American oil companies are preparing to enter Venezuela and invest in its oil industry following the capture of Nicolás Maduro by U.S. forces. Trump stated U.S. oil giants would spend billions to restore the country's broken infrastructure.

Currently, Chevron is the only major U.S. company operating in Venezuela, but others like Exxon Mobil and ConocoPhillips have historical ties. Industry experts, including the API, are monitoring the situation, highlighting the potential global energy market implications.

Analysts caution that rebuilding Venezuela's oil sector will require a decade and tens of billions in investment. The U.S. embargo on Venezuelan oil persists, with the American armada poised until demands are met, according to Trump.

(With inputs from agencies.)