Trump’s New Venezuela Plan
The Trump administration is preparing to authorize expanded oil drilling operations in Venezuela, a move aimed at increasing global energy supply and strengthening U.S. influence over one of the world’s most oil-rich nations.
According to a source familiar with the matter, the administration is expected to issue a broad license that would allow additional American energy companies to invest in Venezuelan oil production and infrastructure. The authorization could be announced as soon as this week. Bloomberg first reported the development.
In a written statement, White House spokesperson Taylor Rogers said the administration is focused on ensuring U.S. companies are positioned to take advantage of major energy opportunities abroad.
“The President’s team is working around the clock to make sure American oil companies are able to invest in Venezuela’s oil infrastructure,” Rogers said. “More details will be coming soon.”
The Treasury Department, which is responsible for issuing such licenses, has been contacted for comment.
The move follows repeated statements from the Trump administration emphasizing the need for increased American involvement in global energy production. Officials have argued that expanding U.S. participation overseas can help stabilize oil markets, protect national security, and ease pressure on gas prices at home.
So far, industry participation has been limited. Chevron is currently the only U.S. company operating in Venezuela under a license that allows drilling activity without violating U.S. sanctions.
Just last week, the administration also approved a separate license permitting U.S. firms to trade Venezuelan-produced oil, signaling a broader shift toward active management of the country’s energy resources.
Since U.S. authorities took control of Venezuelan President Nicolás Maduro, administration officials have made clear that Venezuelan oil will be managed and sold in a way that aligns with American strategic and economic interests.
Venezuela holds the largest proven oil reserves in the world — more than 303 billion barrels as of 2023 — a massive energy stockpile that could play a key role in global supply if responsibly developed.
Administration officials argue that bringing U.S. companies into Venezuela’s oil sector could help boost supply, counter foreign influence, and reinforce America’s long-standing goal of energy dominance.
