01/30/2026, 07:3201/30/2026, 07:32
Venezuela’s parliament has unanimously approved a legislative initiative to strengthen the oil industry. The reform allows additional foreign investment in the energy sector. After the capture of authoritarian ruler Nicolás Maduro by the US military, US President Donald Trump is calling for investments in the Venezuelan oil sector. Last but not least, the United States should benefit from this.
The oil industry should be promoted more in Venezuela.Image: AP
Ahead of the vote, thousands of oil sector workers marched through the Venezuelan capital to support the reform. The rally was organized by the government. The now approved reform was proposed by Maduro’s successor and former vice president Delcy Rodríguez. After Maduro’s arrest for suspected drug offenses, the acting president is Washington’s contact person in Caracas.
People take part in a demonstration in defense of the oil industry in Caracas, Venezuela. Image: EPA EFE
At the annual meeting of the World Economic Forum in Davos, Trump recently said that the 50 million barrels of oil (159 liters each) that the USA would receive from Venezuela would be divided between the two countries. “Twenty years ago (Venezuela) was a great country, but now they have problems,” Trump said. The USA would help: “Venezuela will earn more money in the next six months than in the last 20 years, all the big oil companies are coming to the country.” (sda/dpa)