CNBC Analysis: Who Controls Venezuela's Oil After Maduro's Arrest?

The arrest of Nicolás Maduro creates uncertainty regarding the control of Venezuela's oil production. PDVSA, Chevron, and other international players may reposition themselves in anticipation of potential political developments.

Maduro's arrest brings one of the world's most politically charged oil industries back into the spotlight, forcing investors to reconsider who controls Venezuela's oil resources and whether they can recover after decades of decline.

Andy Lipow, president of Lipow Oil Associates, stated that Petróleos de Venezuela (PDVSA), the state-owned oil company, controls the vast majority of oil production and reserves.

Chevron operates in the country through its own activities and a joint venture with PDVSA, while Russian and Chinese companies are also involved through partnerships.

Sol Cavonic from MST Financial mentioned that if Trump manages to form a more pro-American and investment-friendly government in Venezuela, Chevron is in the best position to strengthen its control over Venezuelan oil.