Washington, 07 January (H.S.): President Donald Trump has declared that American oil companies could be “up and running” in Venezuela within 18 months following the US-led military operation that removed President Nicolás Maduro from power.

Speaking to NBC News, Trump asserted that US oil firms would invest “a tremendous amount of money” to restore Venezuela’s oil infrastructure, with the government promising reimbursement through future revenues or direct support.

Venezuela holds the world’s largest proven oil reserves, estimated at over 300 billion barrels, but its production has plummeted due to years of mismanagement, underinvestment, and US sanctions. Trump believes that ramping up output would not only boost US energy security but also help lower global oil prices, making Venezuela a strategic asset for American petroleum interests.

Industry Skepticism and Challenges

Despite Trump’s optimism, energy analysts and industry experts remain skeptical about the feasibility of such a rapid turnaround. Restoring Venezuela’s oil sector to even a fraction of its former output would require tens of billions of dollars and likely take a decade or more, according to multiple reports.

Much of the country’s infrastructure is dilapidated, and its heavy, high-sulfur crude is difficult and costly to refine.Only Chevron currently operates in Venezuela among major US oil companies, with ConocoPhillips and ExxonMobil holding outstanding claims for compensation after previous nationalizations but not active operations.

Chevron’s spokesperson emphasized ongoing compliance with US regulations and safety protocols, while ConocoPhillips said it is monitoring developments but refrained from speculating about future investments.

Political and Economic Implications

Trump’s vision of US-led oil revival in Venezuela is tied to broader geopolitical goals, including reducing dependence on Middle Eastern oil and increasing US leverage in global energy markets. However, experts caution that the real impact on oil supply and prices would be minimal in the short term, with even optimistic projections suggesting only modest production increases over the next several years.

The US administration is scheduled to meet with oil industry leaders this week to discuss plans for expanding operations in Venezuela, but analysts stress that any significant progress will depend on establishing a stable government, lifting sanctions, and securing massive investment.

Hindusthan Samachar / Jun Sarkar