Five things to know about oil in Venezuela : NPR
NPR••nation
Key Points:
- The U.S. military's capture of Venezuelan president Nicolás Maduro is partly motivated by control over Venezuela's vast oil reserves, with President Trump emphasizing plans for U.S. oil companies to invest billions in fixing the country's oil infrastructure.
- Venezuela, once a major global oil producer and OPEC founder, now produces about one million barrels a day, down from over three million barrels decades ago; its heavy, carbon-intensive oil is less attractive amid global shifts toward cleaner energy.
- U.S. oil companies like ExxonMobil and ConocoPhillips have longstanding financial disputes with Venezuela, while Chevron remains active but cautious; the current global oil glut and environmental concerns complicate prospects for renewed investment.
- Neighboring Guyana, with lighter, less polluting
