Following the ouster of Venezuelan President Nicolas Maduro, the Trump administration is offering U.S. energy companies the chance to revitalize Venezuela's oil industry. However, this opportunity presents significant challenges and risks for companies like Exxon Mobil, Chevron, and ConocoPhillips.

• Venezuela possesses the world's largest oil reserves at over 300 billion barrels.
• U.S. oil production in Venezuela has plummeted from 3.5 million barrels per day (bpd) in the 1970s to below 1 million bpd last year.
• The breakeven cost for heavy oil in the Orinoco belt averages over $80 a barrel, significantly higher than Exxon's target of $30 a barrel by 2030.
• U.S. majors are hesitant due to the political risk in Venezuela and the desire to distance themselves from U.S. foreign policy.