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... At Saturday's press conference, he indicated that his administration has plans to rebuild the Venezuelan oil infrastructure and recover the oil that, according to the president, was “stolen” from the United States several decades ago.

“Venezuela unilaterally seized and sold American oil, American assets, and American platforms, costing us billions and billions of dollars,” Trump claimed. “We are going to have our very large United States oil companies, the biggest anywhere in the world, spend billions of dollars, fix the badly broken infrastructure … and start making money for the country.”

Trump's statements mainly refer to the expropriation process promoted by the Venezuelan government in 2007, during the presidency of Hugo Chávez, when numerous foreign companies from different sectors—especially those linked to energy, oil, and gas—were nationalized.

Over the years, this policy has hampered the development of the Venezuelan oil industry, despite the country's widely recognized economic potential in this sector. Venezuela has the world's largest crude oil reserves, estimated at over 300 billion barrels yet to be extracted. However, a significant portion of this oil is located in offshore fields or deep underground deposits and consists of heavy and extra-heavy crude, making its extraction technically complex and financially costly for state-owned companies....