Trump Seizes Maduro and Pushes $100 Billion Oil Plan

U.S. special forces captured Venezuelan President Nicolás Maduro and his wife, Cilia Flores, during a January 3, 2026, military operation termed Operation Absolute Resolve. Maduro was transported to New York to face federal charges of narco-terrorism and drug trafficking. Following the raid, Donald Trump declared that the United States would effectively run Venezuela and its oil sector indefinitely to lower domestic fuel prices and secure the world's largest oil reserves.

Trump has urged major energy firms to invest at least $100 billion to repair Venezuela's dilapidated infrastructure. To facilitate this, the administration signed an executive order protecting Venezuelan oil revenues in U.S. Treasury accounts from private claims and seized several tankers in the Caribbean. While the U.S. is managing the sale of 30 million to 50 million barrels of crude, it has signaled a willingness to welcome Chinese investment and has coordinated an energy deal with India.

Industry response has been mixed. Chevron, the only U.S. major currently operating in the country, expressed willingness to increase production by 50%. However, ExxonMobil CEO Darren Woods characterized Venezuela as uninvestable due to a history of asset seizures and a lack of legal protections. This led Trump to accuse ExxonMobil of playing too cute and threaten to exclude the company from future projects. TotalEnergies also rejected reinvestment, citing high costs and pollution. Meanwhile, interim President Delcy Rodríguez has cooperated with Washington on oil reforms and the release of political prisoners, despite initially condemning the U.S. intervention.