Trump's $100 Billion Venezuela Oil Plan Faces Huge Hurdles
Business
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Moneycontrol•05-01-2026, 06:50
Trump's $100 Billion Venezuela Oil Plan Faces Huge Hurdles
- •Trump's plan to revive Venezuela's oil industry could cost over $100 billion, requiring $10 billion annually for a decade to restore peak output.
- •Years of corruption, underinvestment, and damage have left Venezuela's vast oil infrastructure in tatters, severely reducing production.
- •US Secretary of State Marco Rubio expects US oil companies like Chevron, Exxon, and ConocoPhillips to show interest in Venezuela's heavy crude.
- •However, companies demand political stability and a new National Assembly before committing to massive investments.
- •Challenges include political uncertainty, sanctions, low oil prices, and billions owed to companies from past nationalizations, despite world's largest reserves.
Why It Matters: Reviving Venezuela's oil industry is a costly, complex gamble requiring immense investment and political stability.
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