Why One Oil Company Has a Head Start in Venezuela

With President Nicolás Maduro deposed, President Donald Trump wants US oil giants to revive Venezuela’s energy industry. Though it’s unclear who, if anyone, will take part in his plan, Chevron is already there. After the US attack on the South American country and its rendition of President Nicolás Maduro, Trump said he wants to rebuild the country’s beleaguered infrastructure. While the oil majors mull his entreaties, Chevron may have a distinct advantage since it’s been operating in Venezuela for decades. 00:00 Introduction 01:58 Venezuela’s oil 02:41 Economic glory days 05:24 Hugo Chávez & socialism 07:17 Economic collapse 08:23 US sanctions 10:04 What’s next Trump’s Team Orders Big Oil Into Venezuela: ‘Do It for Our Country’ --https://www.bloomberg.com/news/features/2026-01-08/trump-baits-big-oil-to-venezuela-as-patriotic-mission-cvx-xom-cop #venezuela #chevron #energy #oil -------- Like this video? Subscribe: http://www.youtube.com/Bloomberg?sub_confirmation=1 Get unlimited access to Bloomberg.com for just $1.99 your first month: https://www.bloomberg.com/subscriptions?in_source=YoutubeOriginals Bloomberg Originals offers bold takes for curious minds on today’s biggest topics. Hosted by experts covering stories you haven’t seen and viewpoints you haven’t heard, you’ll discover cinematic, data-led shows that investigate the intersection of business and culture. Exploring every angle of climate change, technology, finance, sports and beyond, Bloomberg Originals is business as you’ve never seen it. Subscribe for business news, but not as you've known it: exclusive interviews, fascinating profiles, data-driven analysis, and the latest in tech innovation from around the world. Visit our partner channel Bloomberg News for global news and insight in an instant.