The Take: Why is Venezuela ‘uninvestable’ for Big Oil?

After seizures, sanctions and collapse, can Venezuela ever win back Big Oil’s trust?

The Nave Photon, carrying crude oil from Venezuela, is docked at Port Freeport in Freeport, Texas, U.S.
The Nave Photon, carrying crude oil from Venezuela, is docked at Port Freeport in Freeport, Texas, US, January 15, 2026. [Antranik Tavitian/Reuters]

US President Donald Trump says removing President Nicolas Maduro is about reclaiming Venezuela’s oil. But as Washington pushes for access, major oil companies are hesitating. Why is Venezuela being labeled “uninvestable,” and what does that skepticism reveal about power, instability and the future of Venezuela’s vast oil reserves?

In this episode:

Recommended Stories

list of 3 itemsend of list

Episode credits:

This episode was produced by Marcos Bartolome and Melanie Marich, with Tamara Khandaker, and our host, Kevin Hirten. It was edited by Ney Alvarez and Noor Wazwaz. 

Our sound designer is Alex Roldan. Our video editors are Hisham Abu Salah and Mohannad Al-Melhem. Alexandra Locke is The Take’s executive producer. Ney Alvarez is Al Jazeera’s head of audio.


Advertisement