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The Guardian - US
The Guardian - US
World
Lauren Aratani and Andrew Witherspoon in New York

Trump claims Venezuela is set for an oil boom after US attack – history points to a bumpy road ahead

an oil refinery
An oil refinery in Puerto Cabello, Venezuela, on 21 December 2025. Photograph: Matias Delacroix/AP

Hours after Nicolás Maduro was captured by US special forces in Venezuela and indicted on drugs, weapons and “narco-terrorism” charges, Donald Trump spoke extensively about his plans for something else entirely: oil.

Venezuela’s oil reserves – reputedly the world’s largest – are set to be pumped by a parade of powerful US oil companies, according to the US president, most of whom have not operated in the country in decades.

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