US President Donald Trump said the interim authorities in Venezuela ‘will be turning over’ 30–50 million barrels of oil to the United States, following the removal of former president Nicolás Maduro.
In a post on his social media platform, Truth Social on Tuesday (Jan. 6), Mr Trump wrote: “I am pleased to announce that the Interim Authorities in Venezuela will be turning over between 30 and 50 MILLION Barrels of High Quality, Sanctioned Oil, to the United States of America. This Oil will be sold at its Market Price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States.… It will be taken by storage ships, and brought directly to unloading docks in the United States.”
Mr Trump has argued that American oil companies can repair and modernise Venezuela’s damaged energy infrastructure.
The country holds an estimated 303 billion barrels — the world’s largest proven reserves — but production has fallen steadily since the early 2000s.
Venezuelan crude is predominantly heavy and high in sulphur, making it thicker, more difficult to transport, and more complex to refine than lighter oil grades. Processing it requires specialised refineries and higher capital investment. As a result, Venezuelan oil typically trades at a discount to lighter crude.
Only Chevron currently operates in the country. Asked for comment about Trump’s plans for US oil production in Venezuela, Chevron spokesman Bill Turenne said the company “remains focused on the safety and wellbeing of our employees, as well as the integrity of our assets”.
“We continue to operate in full compliance with all relevant laws and regulations,” Turenne added.
ConocoPhillips, a major US oil company that no longer has a presence in Venezuela, “is monitoring developments in Venezuela and their potential implications for global energy supply and stability”, said spokesman Dennis Nuss.
“It would be premature to speculate on any future business activities or investments,” Nuss said.
ℹ️ BBC News
Follow on social media TikTok@tut0ughInstagram@tut0ugh Threads@tut0ugh X@tut0ugh YouTube@tut0ugh
About tut0ugh – Global Events, Geopolitics & World News
tut0ugh is an independent media platform dedicated to providing clear, accurate, and timely coverage of global events, geopolitics, and international affairs. In a world where information travels quickly and narratives compete for attention, understanding the broader context behind headlines is more important than ever. tut0ugh aims to empower readers with knowledge, insight, and perspective, helping audiences navigate complex global developments with confidence.
Mission
The mission of tut0ugh is to connect individual events to the wider forces shaping the world. From diplomacy and security to trade, alliances, and conflicts, our goal is to provide analysis and context that explain not only what happens but why it matters. By highlighting trends, patterns, and historical precedents, tut0ugh equips readers to understand the implications of decisions, agreements, crises, and conflicts on a global scale. Our content is crafted for clarity, ensuring that both casual readers and specialists can benefit from our reporting.
Editorial Approach
tut0ugh prioritises accuracy, transparency, and independence. All information is sourced from verified and credible outlets, including official statements, reputable media, academic research, and direct reporting. We aim to fact-check rigorously before publication and correct any errors promptly, maintaining transparency for our audience. Opinion and analysis pieces are clearly labeled to distinguish them from straight reporting, allowing readers to separate commentary from factual coverage.
Our coverage spans six main categories: Asia-Pacific, Middle East, Americas, Europe, Africa, and Global developments. This structure allows readers to explore regional and international issues, compare perspectives, and understand how local events influence wider geopolitical trends. By offering both regional and global context, tut0ugh ensures readers can make informed judgments about the forces shaping the modern world.
Why Context Matters
No event exists in isolation. Whether it’s a diplomatic negotiation in Europe, a trade dispute in Asia, or security developments in the Middle East, understanding the wider context is essential. tut0ugh connects individual stories to the larger narrative of international affairs, providing insight into how policies, conflicts, and agreements impact nations, societies, and global stability. Our aim is to provide readers with the tools to interpret the news critically, seeing beyond immediate headlines and short news cycles.
Trust, Transparency & Ethics
tut0ugh operates with editorial independence and integrity. We do not represent governments, political parties, or corporate interests. Editorial decisions are made in the public interest, free from external influence. All content is clearly attributed, with publication dates and author information provided for accountability. When corrections are necessary, they are noted transparently.
Privacy and responsible data usage are integral to our approach. tut0ugh does not sell or trade personal information and employs measures to protect user data. Readers can trust that our platform is designed to deliver information responsibly, ethically, and without bias.
Reader Value
tut0ugh is not only about reporting events; it is about providing meaningful context, helping readers understand global trends, and fostering a more informed public. Whether tracking political developments, economic shifts, humanitarian crises, or security issues, our content explains the “why” behind the news. By consistently delivering well-researched, accessible, and insightful reporting, tut0ugh empowers readers to engage with global affairs confidently.
Stay Connected
Readers are encouraged to explore our full range of coverage, from regional pages like Europe, Middle East, and Asia-Pacific to thematic global insights. Follow tut0ugh on social media, subscribe for updates, and consider contributing as a guest author to join a growing community of informed, engaged readers. By connecting with tut0ugh, audiences gain reliable, context-driven news coverage that prioritises accuracy, transparency, and understanding.
tut0ugh 