US now in control of Venezuela's oil reserves, the largest in the world: Chart

Group 1 - Venezuela possesses over 300 billion barrels of proven oil reserves, accounting for approximately 20% of global supply, which is nearly four times that of the U.S. [2] - The oil reserves in Venezuela are primarily heavy and extra-heavy crude, which are challenging and costly to extract due to the need for specialized equipment and advanced refining capacity [2] - The U.S. is looking to mobilize investment from major energy companies to revive Venezuela's oil industry, which has suffered from years of underinvestment and political instability [5][6] Group 2 - President Trump has stated that U.S. oil companies will be encouraged to invest billions to repair Venezuela's oil infrastructure and generate revenue for the country [6] - Chevron is currently the only major U.S. oil company operating in Venezuela and is focused on compliance with laws and regulations while ensuring the safety of its employees [8] - ConocoPhillips is monitoring developments in Venezuela but has not committed to any future business activities or investments at this time [9]