Having attacked Venezuela and deposed its president, Nicolas Maduro, US President Donald Trump now says he has big plans for the country's oil industry and its vast reserves.

Caracas

The United States has conducted airstrikes in Venezuela, resulting in the capture of President Nicolas Maduro and his wife. President Donald Trump stated that these actions, including a military buildup and destruction of civilian boats, were justified by alleged drug trafficking concerns.

Trump also revealed plans for large U.S. oil companies to invest billions of dollars to repair Venezuela's oil infrastructure and manage its oil industry. Venezuela possesses some of the world's largest oil reserves, with Chevron already a major investor and producer in the country. Trump indicated that the U.S. would oversee the country until a proper transition could occur.

Trump's plan for Venezuela's oil industry

The U.S. has carried out a series of airstrikes in Venezuela, capturing President Nicolas Maduro and his wife. President Donald Trump has said his threats against Venezuela, the U.S. military buildup in the region, and the destruction of civilian boats are about alleged drug trafficking. But there's another issue Trump has been talking about. The oil business in Venezuela has been a bust, a total bust for a long period of time. We're going to have our very large United States oil companies, the biggest anywhere in the world, go in, spend billions of dollars, fix the badly broken infrastructure, the oil infrastructure, and start making money for the country. Venezuela on paper has more than 300 billion barrels of oil, or roughly 17 percent of the world's known oil reserves. Most of those reserves are in this vast deposit known as the Orinoco oil belt, but there's even more potential underground. The U.S. Geological Survey estimates that Venezuela has more than one trillion barrels of oil in place in the Orinoco belt. To put it in perspective, the world until today has consumed about 1.5 trillion. The chances are they are going to outlast the world's demand for oil, so effectively they are limitless at this point. And there already is a U.S. oil company that's been operating in the country for decades. Chevron produces about 25 percent of Venezuela's oil today, is the largest investor in the oil industry and in the country. We are going to run the country until such time as a proper transition can take place.

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Pope Leo has expressed deep concern over the recent U.S. raid in Venezuela, urging that the well-being of the Venezuelan people must take precedence over all other considerations.

Rome

Venezuela Strikes

Pope voices concern over U.S. raid in Venezuela, calls for peace

Venezuelan President Nicolas Maduro was in a New York jail Saturday, hours after American special forces seized and flew him out of his country — which President Donald Trump said would come under effective U.S. control.

Venezuela's Maduro arrives in New York after being abducted by U.S.

President Donald Trump says the people of Venezuela are now free of Maduro's dictatorship. But Venezuela's vice president has demanded the US send Maduro back, calling him the rightful president.

Trump says U.S will ‘run’ Venezuela after Maduro seized

After their capture, former Venezuelan leader Nicolás Maduro and his wife were flown to Stewart International Airport, 60 miles north of New York City, then will be helicoptered to Manhattan. They will be processed at the headquarters of the Drug Enforcement Administration. Ali Bauman reports.

U.S. treating Nicolás Maduro like a drug kingpin, federal authorities say

Venezuelan President Nicolás Maduro is in New York after he was captured by U.S forces during a daring raid. President Trump said the U.S. will be running the Latin American country, for now.

New York

First images emerge of Nicolás Maduro after capture by U.S.

No U.S. service members were killed in the military operation in Venezuela, the Trump administration said. CBS News national security correspondent Charlie D'Agata has more details.

Washington

No U.S. service members killed in Venezuela operation, Trump administration says

The United Nations, along with a host of countries including France, China and Russia have criticized U.S strikes on Venezuela and capture of Nicolás Maduro as a violation of international law.

World reacts to U.S. strikes on Venezuela, capture of Nicolás Maduro

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In a surprise attack overnight on Saturday, the United States launched strikes against Venezuelan capital Caracas and other cities. U.S. President Donald Trump stated that Nicolas Maduro and his wife were "captured and flown out of the country". Follow for live updates.

Trump says U.S. 'will run' Venezuela until 'safe' transition

In a surprise attack overnight on Saturday, the United States launched strikes against Venezuelan capital Caracas and other cities. US President Donald Trump stated that Nicolas Maduro and his wife were "captured and flown out of the country".

Maduro to be brought to New York after Venezuela capture, Trump says

US strikes rocked Venezuela's capital early Saturday after months of threats by Donald Trump against Nicolas Maduro. Trump later confirmed the United States had carried out the strikes and captured the Venezuelan leader.

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Seiyun

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Venezuela slams U.S. strikes amid Maduro's ouster

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Trump says Venezuela's Maduro captured after U.S. strikes

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President Trump ordered strikes on sites inside Venezuela, including military facilities, as the administration early Saturday ratcheted up its campaign against the regime of Venezuelan President Nicolás Maduro.

U.S. launches military strikes on Venezuela

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Charlotte

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Venezuelan President Nicolás Maduro says he is open to talks with President Trump on several issues, including drug trafficking, oil and migration.

Venezuelan President Nicolás Maduro open to talks with Trump

Whenever, wherever, however - that's the Venezuelan President's offer to sell more oil to the U.S., as he pleads for diplomacy, not conflict. It comes after Washington hit five more alleged drug boats with airstrikes and reportedly struck Venezuelan soil for the first time. Meanwhile, the U.S. Coast Guard is in hot pursuit of an oil tanker which is suddenly claiming to be Russian.

Maduro open to talks with Trump over fight against drug trafficking

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Jerusalem

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Mayor Zohran Mamdani inaugurated at New York’s City Hall

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