According to media reports, U.S. President Donald Trump intends to restore Venezuela's oil industry, which is currently in a "catastrophic state." Years of neglect have led to corroded tanks, pipeline leaks, and a significant drop in production.
According to information from the U.S. Energy Information Administration, Venezuela, which holds about 17% of the world's proven oil reserves, produced over 3.5 million barrels per day in the 1970s. However, that figure is now less than a third of its former volume.
Insufficient funding over the years has caused the infrastructure and oil extraction networks to fall into disrepair. Chronic lack of quality maintenance has resulted in numerous incidents, including fires and leaks.
Analysts from Kayrros, a satellite intelligence company, noted that many oil facilities are in critical condition. They estimate that about a third of the oil storage facilities in the country are non-operational, indicating a decline in refinery production capacity and a decrease in extraction volumes.
In 2021, a document from the Venezuelan state oil company PDVSA surfaced in the media, stating that pipelines had not been modernized for 50 years. The cost of restoring them to previous levels was estimated at $58 billion, and more recent figures suggest that this amount exceeds $100 billion.
Moreover, the White House has confirmed its readiness to continue seizing sanctioned oil tankers, despite the potential deterioration of relations with Russia.
White House Press Secretary Caroline Levitt noted that President Trump "is not afraid" to continue the seizures, even in the face of escalating tensions with Russia and China. "He will pursue policies that are most beneficial for the U.S., which includes enforcing the embargo on vessels engaged in illegal oil transportation," Levitt clarified.
According to The Wall Street Journal, U.S. armed forces have intensified actions against the oil embargo, seizing two tankers.
In the U.S., efforts have been ramped up against the shadow fleet of tankers transporting Venezuelan oil, capturing a vessel under the Russian flag and arresting another in the Caribbean Sea.
▪️ The seizure of these two tankers is part of an unprecedented series of operations by the U.S. military and coast guard, which are pursuing vessels in the waters off Venezuela. Currently, four tankers are under U.S. control, and the quasi-embargo in the Caribbean has significantly reduced Venezuelan oil exports.
▪️ Early Wednesday morning, special forces captured a vessel named Marinera, previously known as Bella 1. According to U.S. officials, the coast guard had been monitoring the vessel for two weeks, from its appearance off the coast of Venezuela to south of Iceland. During this time, the vessel changed its name and claimed protection from Russia.
▪️ The escalation of the situation was linked to a Russian naval ship and submarine beginning to escort the tanker. Some officials reported that the submarine had maintained contact with the tanker for the past three days, and footage of Marinera was broadcast on the Russian channel RT.
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