Tom Pelton
/
January 15, 2026
U.S. oil refinery investors, not consumers, will benefit from seizure of Venezuelan oil
The U.S. military’s seizure of Venezuela’s oil exports is unlikely to lower gasoline prices for consumers – as President Donald Trump has claimed – but could funnel billions of dollars to American oil companies that donated to Trump’s election, according to industry analysts. Among the oil refinery owners who could benefit is billionaire Trump donor Paul Singer, founder of an investment management company that is buying Citgo Petroleum, a refining firm owned by Venezuela’s state oil company. Also positioned to potentially cash in are ConocoPhillips, ExxonMobil, and Chevron, which also gave millions to Trump’s political campaign.