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00:02President Trump said U.S. oil companies should rebuild Venezuela's energy sector
00:06after the overthrow of Nicolas Maduro, but analysts said restoring output will take years
00:11and large investment, according to CNBC. Venezuela holds 303 billion barrels of proven reserves,
00:18but would need $53 billion over 15 years to maintain output near 1.1 million barrels per day.
00:25Ristat Energy estimates $183 billion would be needed to reach 3 million barrels per day by
00:312040. Chevron holds an advantage as the only major U.S. oil company still operating in Venezuela
00:37through government-licensed joint ventures with Petróleos de Venezuela. ExxonMobil and
00:42ConocoPhillips exited after nationalization in 2007. Analysts cited political risk,
00:48legal uncertainty, and long investment timelines as obstacles.
00:52Chevron shares rose more than 5% Monday.
00:55For all things money, visit Benzinga.com.
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