Trump Announces Venezuela Will Deliver Up to 50 Million Barrels of Oil to the US

Trump Announces Oil Delivery from Venezuela

The President of the United States, Donald Trump, has announced that Venezuela "will deliver" up to 50 million barrels of oil—worth approximately $2.8 billion—to the U.S. following a military operation aimed at ousting President Nicolás Maduro from power. The oil will be sold at market price, Trump added, stating that he will control the funds obtained and utilize them to benefit both the Venezuelan and American people.

His comments come after noting that the U.S. oil industry will be "up and running" in Venezuela within 18 months, expecting massive investments in the country. Analysts have previously stated that it could take tens of billions of dollars and potentially a decade to restore Venezuela's prior production levels.

China, which has been the largest buyer of Venezuelan oil in recent years, condemned Trump's announcement as well as the reported demands from the U.S. for Venezuela to offer its oil exclusively to them. Trump expressed on the social platform Truth Social that "I am pleased to announce that the interim authorities in Venezuela will deliver between 30 and 50 million barrels of high-quality, sanctioned oil to the United States of America."

His remarks came a day after Delcy Rodríguez, the former Vice President of Venezuela, was sworn in as interim president. Maduro has been brought to the U.S. to face charges of drug and arms trafficking.

A spokesperson for Chevron emphasized that the company "remains focused on the safety and well-being of our employees, as well as the integrity of our assets." Additionally, ConocoPhillips and Exxon declined to comment on Trump's plans, with their representatives stating that they are monitoring developments in Venezuela and their implications for global energy supply and stability.