02 Feb 2026

01:03

  • Bitumen 60/70

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    FOB Bandar Abbas - New Steel Drum

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Home Blog Why Venezuela’s Oil Comeback Is Proving Harder Than Trump Expected

Why Venezuela’s Oil Comeback Is Proving Harder Than Trump Expected

codarx

codarx

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Update date: 2026/01/30

After U.S. forces snatched Nicolas Maduro in a daring night raid earlier this month, President Donald Trump began pressing oil companies to invest in Venezuela’s heavily corroded petroleum industry. The U.S. president eagerly urged drillers to invest in Venezuela, which sits atop the world’s largest oil reserves, with Washington’s protection. But those overtures received a lukewarm reception from U.S. and European energy companies. ExxonMobil CEO Darren Woods called Venezuela uninvestable provoking Trump’s ire, but some…

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