On January 7, 2026, President Donald Trump announced the capture of former Venezuelan President Nicolás Maduro during a military operation termed Operation Absolute Resolve. Trump justified the operation by claiming it aimed to recover assets that Venezuela had allegedly seized from U.S. companies, stating, "Venezuela unilaterally seized and sold American oil, American assets and American platforms, costing us billions and billions of dollars."

The focus on Venezuela's oil resources has raised questions about the role of American energy companies in the country and the potential for these corporations to assist in revitalizing Venezuela's struggling petroleum industry. Samantha Gross, director of the energy security and climate initiative at the Brookings Institution, noted that the oil in question is owned by the Venezuelan government, emphasizing that it was never "our oil."

Historically, U.S. oil companies had contractual agreements with Venezuela for oil extraction and processing, sharing in the revenue from sales. Trump's claims of theft relate to actions taken by former Venezuelan leader Hugo Chávez, who nationalized the energy sector in 2007, leading to the confiscation of production assets from companies like Exxon Mobil and ConocoPhillips. These actions have resulted in ongoing lawsuits, with the World Bank ruling in favor of the oil companies, although recovery of funds has not yet occurred.

Executives from major oil companies, including Exxon, Chevron, and ConocoPhillips, are expected to meet with Trump and other officials to discuss the implications of the situation in Venezuela. ConocoPhillips has indicated it is monitoring developments that could affect global energy supply and stability.

The U.S. military operation demonstrated significant technological superiority, effectively overcoming Venezuelan defenses that had been fortified with military hardware from Iran, Russia, and China. Despite these efforts, U.S. special operations forces executed a coordinated strike that included cyber operations and precision targeting, leading to the successful breach of Maduro's compound.

The operation revealed vulnerabilities in Venezuela's military readiness and the effectiveness of its foreign-sourced equipment. Venezuelan officials had long promoted their military capabilities as a deterrent against U.S. intervention, but the U.S. operation compromised their air defenses and command structures.

Following the operation, the U.S. government imposed sanctions on Venezuelan entities involved in the production of unmanned aerial vehicles, citing concerns over military capabilities that could threaten U.S. interests. This event raises broader questions about the effectiveness of military partnerships reliant on foreign technology and the long-term viability of regimes dependent on external military support.

Despite possessing the world's largest oil reserves, Venezuela's oil production has significantly declined due to underinvestment, government mismanagement, and international sanctions. Secretary of State Marco Rubio announced plans for the U.S. to export between 30 million and 50 million barrels of oil from Venezuela, with revenue intended to benefit the Venezuelan people. However, the political situation remains unstable, and companies may require assurances before investing in new ventures.