Key Takeaways Trump signaled the potential for opening Venezuela's vast oil reserves to U.S. energy majors.CVX already operates in Venezuela via joint ventures that account for 23% of the country's output.PSX & VLO run complex refineries capable of processing heavy, high-sulfur crude into fuels.President Donald Trump has signaled the possibility of opening the vast oil reserves of Venezuela to the oil and gas majors in the United States, implying that the energy majors in the domestic market have the potent ...