Days after launching a “large-scale” attack on Venezuela, Donald Trump has claimed that the country “will be turning over” up to 50 million barrels of oil to the U.S., worth around $2.8 billion, per the BBC.
Following the U.S. military operation in the Venezuelan capital of Caracas, the nation’s leader, Nicolas Maduro, and his wife, Cilia Flores, were captured and flown to New York to face trial.
Shortly after their arrest, Trump said that the U.S. would temporarily “run” Venezuela until a “safe, proper, and judicious transition.”
Maduro and his wife appeared in a federal court on Monday, January 5, 2026. The duo pleaded not guilty to several drug trafficking charges.
After bombing Venezuela and abducting President Nicolás Maduro, Donald Trump said the US government is “going to run the country” until there is a “transition” to pro-US leadership.
He boasted that “very large” US corporations will exploit its oil.
This is blatant colonialism. pic.twitter.com/Cy44HmRdpG
— Ben Norton (@BenjaminNorton) January 3, 2026
Meanwhile, Trump took to social media to announce that Venezuela will turn over between 30 and 50 million barrels of oil to the U.S.
“I am pleased to announce that the Interim Authorities in Venezuela will be turning over between 30 and 50 MILLION Barrels of High Quality, Sanctioned Oil, to the United States of America,” the U.S. president wrote on Truth Social on Tuesday, January 6.
“This Oil will be sold at its Market Price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States!” he added.
The 79-year-old also mentioned that the oil will be “taken by storage ships, and brought directly to unloading docks in the United States,” and asked Energy Secretary Chris Wright to “execute this plan, immediately.”
The Wall Street Journal reported that the President is planning to meet representatives from major U.S. oil companies, including Chevron, ExxonMobil, and ConocoPhillips, as well as other domestic producers. He will reportedly “discuss making significant investments in Venezuela’s oil sector.”
Trump extorted Venezuela for up to 50 million barrels of oil, worth ~$3 billion, that will be sold with Trump controlling the money.
If you think the people of Venezuela will see any of that money, then you’re probably still anxiously awaiting your $5000 DOGE refund check. pic.twitter.com/7Zm63Epxi3
— Melanie D’Arrigo (@DarrigoMelanie) January 6, 2026
Bill Turenne, spokesman for Chevron, the only U.S. oil company currently operating in Venezuela, told the BBC that the firm “remains focused on the safety and well-being of our employees, as well as the integrity of our assets.”
He added, “We continue to operate in full compliance with all relevant laws and regulations.”
Meanwhile, ConocoPhillips spokesman Dennis Nuss said that the company is “monitoring developments in Venezuela and their potential implications for global energy supply and stability.”
The spokesman further mentioned, “It would be premature to speculate on any future business activities or investments.”
Trump previously said that the US would be working towards reviving the “broken” oil infrastructure of Venezuela.
“As everyone knows, the oil business in Venezuela has been a bust, a total bust, for a long period of time,” Trump told reporters at a Mar-a-Lago press conference on January 3, per The Daily Beast.
“They were pumping almost nothing by comparison to what they could have been pumping and what could have taken place,” he said.
“We’re going to have our very large United States put up companies, the biggest anywhere in the world, to go in, spend billions of dollars to fix the badly broken infrastructure, the oil infrastructure, and start making money for the country,” the President added at the time.
