Donald Trump has pledged to exploit Venezuela's vast oil reserves following the seizure of President Nicolás Maduro, stating the United States will oversee the nation until a "safe" transition occurs. The former U.S. president aims to have American oil companies invest billions of dollars in Venezuela, which possesses the world's largest crude oil reserves, to develop the largely untapped resource.

Trump asserted that U.S. companies would repair Venezuela's "badly broken" oil infrastructure and "start making money for the country." However, experts caution that Trump's plan faces significant hurdles, estimating that it would require billions of dollars and could take up to a decade to significantly increase oil production.

Venezuela holds an estimated 303 billion barrels of proven oil reserves, making it a crucial player in the global energy market. However, its current oil production is significantly limited. Oil output has declined sharply in recent years due to a combination of factors, including mismanagement, corruption, and, crucially, international sanctions imposed in response to the Maduro regime's human rights abuses and undemocratic practices. These sanctions have restricted Venezuela's access to international financing and technology, hindering its ability to maintain and develop its oil infrastructure.

The country's oil sector, once the backbone of its economy, has suffered greatly. Petróleos de Venezuela, S.A. (PDVSA), the state-owned oil company, has been plagued by inefficiency and a lack of investment, further contributing to the decline in production.

Analysts point out that any attempt to revitalize Venezuela's oil industry would require a stable political environment, significant foreign investment, and the lifting of sanctions. Furthermore, the country's infrastructure needs extensive repairs and upgrades. The security situation in Venezuela also poses a challenge, with concerns about corruption and the rule of law potentially deterring foreign investment.

The international community remains divided on the issue of Venezuela. Some countries support the U.S.'s approach, while others advocate for a negotiated solution involving all political actors in Venezuela. The future of Venezuela's oil industry and the success of any plan to revitalize it will depend on resolving these complex political and economic challenges.