In this video, oil industry veteran Mike Cooper presents the TROVE perspective on Venezuela’s prospects. While it is true that Venezuela holds the world’s largest proven oil reserves, does that necessarily mean it can once again become the world’s leading oil producer?

TROVE reviews the key events over recent decades leading up to the operation in Caracas on 3 January 2026, which resulted in President Nicolás Maduro being taken into U.S. custody. The video provides a technical assessment of whether Venezuela’s oil production could realistically return to—and potentially exceed—its former highs. It also examines Trump’s claim of “stolen oil” and evaluates how quickly Venezuela’s oil infrastructure could be repaired and rebuilt. 

TROVE video from 2023 on Venezuela

All of the information in this video can be found in the TROVE databases.

Watch the video   l   KeyFacts Energy Industry Directory: 1st Subsurface