CH4 Systems LLC has formed a strategic alliance aimed at enabling U.S. energy companies to restore Venezuela’s oil and gas infrastructure under a U.S. governance framework.
Venezuela can bolster oil production by 30% to 40% this year, an increase of roughly 300,000 to 400,000 bpd, according to U.S. Energy Secretary Chris Wright.
In early January 2026, U.S. forces captured Nicolás Maduro and brought him into U.S. custody on drug charges. In subsequent public statements, the Trump administration announced an intent to encourage private-sector participation and investment in Venezuela’s energy sector, despite broad U.S. sanctions on the Venezuelan government.
The US government has granted licences to five Western oil companies including BP, Chevron, Eni, Repsol and Shell to resume oil and gas operations in Venezuela, Bloomberg reported on Friday.
Venezuela plans to grant more oil-production land to Chevron Corp. and Spain’s Repsol SA as the Trump administration pushes for private companies to rebuild the nation’s energy sector, according to people with knowledge of the matter.
Venezuela’s crude oil production could increase dramatically as soon as this year, U.S. Energy Secretary Chris Wright said during his visit in the South American country.
Venezuela’s interim leader is playing to three different audiences with her plans for Venezuela’s oil sector: foreign investors, the Donald Trump administration, and her own socialist supporters. None of them is happy with it.
Venezuela expects fresh oil investments of some $1.4 billion this year, which would be up from $900 million last year, interim president Delcy Rodriguez said, as quoted by Reuters.
The U.S. government has made it clear it wants to prevent the Venezuelan government from reaping any financial benefit from the country’s oil wealth, but this has proved difficult, since U.S. refiners are sizable buyers of Venezuelan crude and the chief reason why Chevron was granted that sanction exemption. Last year, imports of Venezuelan crude in the U.S. hit peaks of some 300,000 barrels daily, per data from Kpler.
Oil traded slightly lower on Friday as traders weighed trade talk optimism and the potential of more oil supply from Venezuela.