US signals oil push in Venezuela as Trump insists there is no war

US President Donald Trump has insisted that the United States is “not at war with Venezuela” while signalling that his administration could subsidise American oil companies to help rebuild the country’s devastated energy infrastructure.

In an interview with NBC News recently, Trump said Washington “may subsidise an effort by oil companies to rebuild Venezuela’s energy infrastructure,” adding that the work “could take less than 18 months” if it moves ahead.

Trump reiterated that military action was not underway, stressing again, “We are not at war with Venezuela.” However, he asserted sweeping executive authority, saying he would not require congressional approval if he chose to deploy US troops again. “I would not need lawmakers to act in order to send troops back,” he said.

The president also ruled out fresh elections in Venezuela in the near term, stating that the country would not hold a new vote within the next 30 days.

Asked whether oil companies had been briefed ahead of the US military operation that led to the arrest of Venezuelan President Nicolás Maduro, Trump said no formal briefing had taken place. “No. But we’ve been talking to the concept of, ‘what if we did it?’” he said, adding that companies were aware Washington was considering its options but had not been informed of any imminent action.

“The oil companies were absolutely aware that we were thinking about doing something,” Trump told NBC News. “But we didn’t tell them we were going to do it.” He said it was “too soon” to confirm whether he had personally spoken with senior executives, remarking, “I speak to everybody.”

CBS News, citing an unnamed source, reported that executives from three major US oil companies are expected to meet Energy Secretary Chris Wright on January 8. An oil industry executive, however, told Reuters that companies would be cautious about discussing potential Venezuelan operations collectively with the White House, pointing to antitrust rules that restrict joint discussions on investments, timelines and production.

US forces carried out a raid in Caracas on January 3 that resulted in Maduro’s arrest and transfer to the United States on narcotics-related charges, a dramatic escalation in Washington’s long-running standoff with the oil-rich nation.

Trump said he expects major US energy companies to invest billions of dollars to revive Venezuela’s oil output, which has collapsed after years of mismanagement, sanctions and underinvestment. Analysts caution, however, that any recovery could be slowed by severely damaged infrastructure and deep uncertainty over political stability, legal protections and future US policy.

Chevron remains the only major American oil company still operating in Venezuela. Exxon Mobil and ConocoPhillips exited the country after their assets were nationalised under former president Hugo Chávez, with both firms pursuing compensation claims. Chevron continues to export Venezuelan crude to the US Gulf Coast and has navigated a complex sanctions regime in recent years.

Trump said the US embargo on Venezuelan oil remains in force. Energy stocks rose on January 5 on expectations that American firms could eventually gain broader access to Venezuela’s vast reserves, with shares of Exxon Mobil and Chevron both posting gains.