A flame burning natural gas is seen at an heavy-crude treatment plant operated by Venezuela's state oil company PDVSA, in the oil rich Orinoco belt, near Cabrutica at the state of Anzoategui. File image/Reuters
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Firstpost06-01-2026, 08:47

Trump Hints Taxpayers May Fund Venezuela Oil Rebuild; Maduro Pleads Not Guilty

  • President Trump suggests American taxpayers could cover costs for rebuilding Venezuela's oil infrastructure, with companies reimbursed by the US or revenue.
  • US Department of Energy Secretary Chris Wright is set to meet with oil executives to discuss boosting Venezuelan oil production.
  • The administration aims to re-engage major US oil firms like Exxon Mobil, ConocoPhillips, and Chevron in Venezuela after a two-decade absence.
  • Oil industry executives contradict Trump's claims of prior meetings regarding Venezuelan operations.
  • Nicolas Maduro, arrested by the US military, pleaded not guilty in a US court to drug trafficking charges, claiming he was "kidnapped" and remains president.

Why It Matters: Trump eyes taxpayer funds for Venezuela oil, while Maduro, arrested by US, pleads not guilty.

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