US oil companies refuse to return to Venezuela: Risks outweigh profits

As the United States intensifies its efforts to lift restrictions on Venezuelan oil, major American oil companies have declared that operating in Venezuela remains “unprofitable” under the current political and economic conditions.

Informed sources confirmed that the risks associated with investments there, including previous US sanctions and the volatility of the domestic market, make companies hesitant to return to Venezuelan oil projects, despite promises of market reopening.

The companies explained that any move to resume operations would require clear guarantees of legal and security protection, as well as a stable regulatory framework, noting that “current conditions do not allow for serious action before these criteria are met.”

This stance reflects a dual challenge for Washington, which is trying to balance supporting reconstruction in Venezuela with protecting its companies’ interests from potential political and economic risks.