Trump Says US Oil Firms Are Set to Enter Venezuela

President Donald Trump declared that large American oil companies will be permitted to operate in Venezuela, following military efforts to remove Nicolas Maduro from power. This initiative aims to revitalize the country's oil production and infrastructure, potentially transforming Venezuela's economy while enhancing US energy interests.

By : AFP

Update: 2026-01-03 17:23 GMT

US President Donald Trump speaks to the press following US military actions in Venezuela, at his Mar-a-Lago residence in Palm Beach, Florida, on January 3, 2026. President Trump said Saturday that US forces had captured Venezuelan leader Nicolas Maduro after launching a "large scale strike" on the South American country. (Photo by Jim WATSON / AFP)

Palm Beach: President Donald Trump said Saturday he would allow American oil companies to head into Venezuela to tap its massive crude reserves after a US military operation to seize the country's leader Nicolas Maduro.

"We're going to have our very large United States oil companies, the biggest anywhere in the world, go in, spend billions of dollars, fix the badly broken infrastructure, the oil infrastructure, and start making money for the country," Trump told a press conference.