The US Energy Secretary denies 'stealing' Venezuelan oil, despite a plan to hold revenues in offshore accounts under US control

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At a meeting at the White House on 9 January, the CEOs of major US energy firms expressed skepticism about participating in President Donald Trump’s scheme to invest $100 billion to “revive” Venezuela’s sanctions-battered oil sector.

The meeting took place one week after US Special Forces abducted Venezuelan President Nicolas Maduro and his wife and transferred them to New York to stand trial on trumped-up “narco-terrorism” charges.

After abducting Maduro, Trump said the US would “take over” Venezuela’s oil reserves, which are considered the largest in the world.

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Chevron is the only US oil company currently operating in Venezuela through a joint venture with state oil company Petróleos de Venezuela (PDVSA).