Senate Democrats have launched an investigation into communications between major U.S. oil companies and the Trump administration regarding Venezuela’s oil industry, following President Donald Trump’s statements that he consulted the firms before and after a U.S. military operation that captured Venezuelan President Nicolás Maduro.
The probe was initiated on January 7, 2026, when five Democratic senators sent letters to executives of 11 oil and oilfield services companies requesting details of any meetings with administration officials discussing Venezuelan oil assets, advance knowledge of the military action, and potential investment plans.
The letters were signed by Senators Sheldon Whitehouse (D-Rhode Island), Ron Wyden (D-Oregon), Elizabeth Warren (D-Massachusetts), Peter Welch (D-Vermont), and Brian Schatz (D-Hawaii). Senator Edward Markey (D-Massachusetts) sent separate inquiries to the companies.
The companies include Exxon Mobil, Chevron, Shell, ConocoPhillips, BP America Inc., Citgo Petroleum Corp., Continental Resources, Halliburton, SLB, Weatherford International, and Baker Hughes.
In the letters, the senators wrote: “We would like to know the extent to which U.S. oil and gas companies such as yours had either advance knowledge of or the ability to shape American foreign policy decisions — especially given that Congress was kept in the dark concerning the use of force until after the strikes occurred.”
They also sought information on any discussions about the costs of rebuilding Venezuela’s oil infrastructure and the potential financial burden on U.S. taxpayers, stating: “American taxpayers cannot afford to take on these expenses.”
The investigation follows Trump’s comments aboard Air Force One, where he confirmed speaking with American oil companies “before and after” the operation that resulted in Maduro’s capture and U.S. control over Venezuela’s oil industry.
Trump said the companies “want to go in” and would “do a great job for the people of Venezuela.” He has described Venezuela’s oil reserves — the world’s largest proven crude reserves, representing 17% of global totals — as a means to reimburse U.S. costs, stating: “It won’t cost us anything, because the money coming out of the ground is very substantial.”
Venezuela’s current oil production is less than 1% of global supply, with much of its infrastructure deteriorated due to years of neglect and international sanctions, following nationalization efforts under former President Hugo Chávez in the early 2000s.
The American Petroleum Institute, an industry trade group, stated: “We’re closely watching developments involving Venezuela and any potential implications for global energy markets.”
