Lower thirds:

00:02 Report by / Alexa Meyer
00:10 Donald Trump / US President
01:26 Mikhail Krutikhin / Independent energy analyst

Script:

On board of the AirForce One, US President Donald Trump reiterated what many believe is his main interest in Venezuela.

00:10 U.S. PRESIDENT, DONALD TRUMP
“Venezuela right now is a dead country. You have to bring it back. And we're going to have big investments by the oil companies to bring back the infrastructure. The oil companies are ready to go."

00:20 
For decades, the US was a key partner of the Venezuelan oil sector, with major oil companies investing heavily in the country. ExxonMobil and ConocoPhillips left the country in 2007, in the aftermath of the Chavez revolution. Only Chevron stayed. And in 2022, the company was given an exemption to resume crude oil exports from its joint venture operations in Venezuela. Since October 2025, Chevron is allowed to produce oil again in the southamerican country. 

00:49 
Since the US imposed sanctions on Caracas' state owned oil company PDVSA in 2019 - citing concerns of terrorism and illicit financing - oil production and exports collapsed. 
Now, Venezuela produces only one million barrels per day.

01:03
Now, China is the largest buyer of oil exports from Venezuela. According to an analysis by the US Energy Information Administration (EIA), around two-thirds of oil exports in 2023 went to China and 23 percent to the US.

01.15 
NEW investments of US companies in Venezuela could face serious challenges, according to experts. 

01:22 (on at 01:26) Mikhail Krutikhin, Independent energy analyst: 
"If American companies come to Venezuela to launch oil projects, they will have to replace russian and chinese interests in this country. Russia has invested over 17 billion dollars and the chinese companies over 20 billion dollars in the oil industry of Venezuela.  And I don`t think they will be very happy to see their investments lost." 

01:51 
For example, in November last year, Venezuela's National Assembly approved a 15-year extension of the joint ventures between state company PDVSA and a unit of Russia's Zarubezhneft that operate two oilfields in the South American country's western region. 

02:06 
And in August 2025, China Concord Resources Corp in August began developing two Venezuelan oilfields, with plans to invest more than $1 billion.  China "strongly" condemned the US attack on Venezuela.

02:16
Caracas is home to the world's largest proven oil reserves, with more than 300 billion barrels available. Companies from all interested countries will race to increase their production in the country but how fast they're able to get in there will only be determined by political developments.

END