Venezuela’s oil industry is back in the spotlight as U.S. authorities seize control of major oil revenues. The first big sale under this move reached $500 million 💰, and foreign companies like Chevron and Repsol are rushing to secure licenses to restart production ⚡.
Despite having the largest oil reserves in the world, Venezuela’s production is still low due to collapsed infrastructure and years of mismanagement 🏭. Most of the money from these new sales is controlled by U.S.-supervised accounts, meaning the profits may not directly benefit Venezuelans 🚫.
This is not just business — it’s a geopolitical power play 🌍. Control over oil exports gives the U.S. leverage in global energy markets while foreign companies stand to gain huge profits 📈.
Bottom line: Venezuela’s oil is flowing again, but the real winners might be foreign investors, not citizens ⚠️.
