Energy industry stocks and oil prices surged after the U.S. seized Venezuelan President Nicolás Maduro. Chevron, Exxon Mobil, and ConocoPhillips saw stock increases, along with oil services giants Halliburton and Schlumberger. U.S. crude and Brent crude prices also rose. President Trump mentioned U.S. oil companies participating in rebuilding Venezuela’s energy infrastructure. Despite Venezuela’s substantial oil reserves, experts estimate it could cost over $100 billion and take at least a decade to significantly increase production. Major U.S. oil firms like Chevron, ExxonMobil, and ConocoPhillips are expected to be involved in Venezuela, potentially interested in recovering assets and investing in heavy crude reserves. However, the business case for investing in Venezuela’s energy sector remains uncertain due to the high costs of extracting its heavy oil reserves.
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