President Donald Trump announced on Saturday that U.S. oil companies plan to invest billions of dollars to repair the damaged oil infrastructure in Venezuela, aiming to boost production and generate profit for the struggling South American nation. During a press conference in Palm Beach, Florida, Trump reiterated that the U.S. is in the “oil selling” business and intends to supply oil to other nations looking to buy.
“We’re in the oil business. We’re going to sell it to them (other countries),” Trump stated. He emphasized that the U.S. would sell oil in larger quantities because Venezuela’s current production is severely limited due to its failing infrastructure. “We’ll be selling large amounts of oil to other countries, many of whom are using it now, but I would say many more will come,” he added.
Trump described Venezuela’s oil sector as a “total bust,” asserting that substantial investments from American oil companies are necessary to repair the “badly broken” infrastructure that has hampered production levels for years. “As everyone knows, the oil business in Venezuela has been a bust for a long time. They were pumping almost nothing compared to what they could have been,” he said. He expressed confidence that major U.S. oil firms would enter the market, fix the problems, and create revenue for Venezuela.
This announcement follows the recent capture of President Nicolas Maduro and his wife during a U.S. military operation. Trump indicated that the U.S. would temporarily govern Venezuela to ensure a peaceful transition of power and justice. American authorities will stay in the country until a stable transition is established.
“We’re going to run the country until we can ensure a safe and proper transition. We want peace, justice, and liberty for the great people of Venezuela. We can’t take a chance on someone else taking over without considering the welfare of the Venezuelan people. We will remain until a proper transition takes place,” he stated.
Original Source: https://www.sentinelassam.com/more-news/international/us-oil-companies-to-spend-billions-of-dollars-in-venezuela-trump-after-maduros-capture
Category: International News
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Publish Date: 2026-01-05 16:01:00
