Black Gold Gambit: United States Moves to Seize Control of Venezuela's Vast Oil Reserves

January 08, 2026

President Donald Trump declared that the United States will maintain oversight of Venezuela and its enormous oil wealth for years to come, signaling a bold push to harness the world's largest proven crude reserves amid the fallout from Nicolás Maduro's capture.

Long-Term Oversight: Trump's Vision for Profitable Rebuilding

In a wide-ranging interview, Trump stated the interim Venezuelan government, led by figures loyal to the previous regime, is providing full cooperation. He emphasized rebuilding the nation "in a very profitable way," with the U.S. extracting and using oil while channeling funds back to Venezuela.

The president suggested American control could extend well beyond a year, potentially lasting much longer, as major U.S. companies invest billions to repair decades-old infrastructure. Venezuela holds over 300 billion barrels of proven reserves, dwarfing those of any other nation, though production has plummeted to around 1 million barrels per day due to neglect and sanctions.

Indefinite Sales Control: Energy Department Takes Charge

Administration officials revealed plans to oversee Venezuelan oil sales indefinitely, directing proceeds into U.S.-controlled accounts. Energy Secretary Chris Wright outlined intentions to market the crude globally, prioritizing reimbursement for infrastructure upgrades.

Recent actions include seizing Venezuela-linked tankers, including one Russian-flagged vessel, to enforce sanctions and redirect flows. Trump announced an initial deal for 30 to 50 million barrels to reach the United States, valued at billions, as part of stabilizing the sector.

American Companies Poised for Return

Major firms like Exxon Mobil, ConocoPhillips, and Chevron stand to recover assets nationalized under Hugo Chávez in 2007, potentially worth tens of billions. Trump has urged these giants to front investments for revival, promising compensation through revenue or direct reimbursement.

Chevron, the sole U.S. major still operating there, is positioned for rapid expansion. Experts note reviving peak production could require $58 billion and years of effort, but the heavy crude suits U.S. Gulf Coast refineries amid global diesel shortages.

Global Ripple Effects and Criticism

The strategy aims to lower world oil prices, counter influences from China and Russia, and bolster U.S. energy dominance. However, international voices, including UN experts, warn of violations to sovereignty.

Acting leader Delcy Rodríguez has navigated denunciations of the raid while signaling openness to dialogue, as negotiations over oil access continue.

With Maduro facing trial in New York and U.S. forces maintaining regional presence, this assertive policy reshapes energy markets and hemispheric relations, placing Venezuela's black gold firmly under American influence for the foreseeable future.

As implementation unfolds, the world watches whether this gambit yields prosperity or prolonged controversy.