Shares of major U.S. companies in the energy sector are sharply higher after President Donald Trump announced plans to take control of Venezuela's oil industry and said American companies would revita

The largest oil companies are likely to move slower in terms of making investments in Venezuela, with wildcatters or independent oil companies likely to move much more quickly, U.S. Treasury Secretary Scott Bessent said on Thursday.

The Trump administration is betting on US energy companies, but they are unlikely to rush to invest amid instability

Venezuela holds 300 billion barrels of oil reserves as Trump announces plans for major U.S. energy companies to invest billions in infrastructure.

Venezuela has the world’s largest oil reserves—but history, costs, and political risk raise questions about whether U.S. oil companies are ready to invest.

Venezuela holds the largest proven oil reserves in the world, estimated at roughly 303 billion barrels, yet it consistently earns a fraction of what other major exporters do from crude exports and suffers one of the most severe economic crises in Latin America.

Industry sources say major U.S. oil firms had no talks with the White House on Venezuela, disputing Trump’s claim of consultation before and after Maduro’s removal.

Oil has long been the backbone of Venezuela’s economy. The state-owned oil company PDVSA was once regarded as one of the most capable national oil firms globally, producing over 3 million barrels per day at its peak.