Venezuela's oil industry will take years and tens of billions of dollars to rehabilitate, with tanker market impacts uncertain, reports the UK's Seatrade Maritime News.

In December, President Donald Trump warned of a blockade of sanctioned tankers at Venezuelan ports, described by US Secretary of State Marco Rubio as a quarantine. More than half of Venezuela's 800,000 barrels per day of heavy oil exports have been bound for China.

US forces seized one sanctioned tanker late last year and attempted to detain others. Reports said AIS-spoofing vessels carrying Venezuelan oil linked to Russia and Iran were seeking to leave local waters after US military operations near Caracas and La Guaira.

Venezuela's reserves are thought to exceed those of Saudi Arabia and Iran, though output has fallen below one million barrels per day. In the late 1990s, production topped three million bpd, with nearly two million bpd shipped to US Gulf Coast refineries.

Chevron has continued importing PDVSA oil under US approval, while Exxon Mobil and ConocoPhillips lost assets to expropriation in 2007-08. Analysts said Maduro's removal will have modest near-term impact, with recovery likely to take two to three years even under optimistic scenarios.

CGEP's Daniel Sternoff said firms such as Repsol and Eni may invest if debt repayment terms are secured. He noted rehabilitation requires tens of billions of dollars and political stability.

Global supply is expected to exceed demand in 2026, keeping prices low. Mr Sternoff added that Venezuela's reserves could pressure long-term futures, though a collapse in output would tighten heavy crude supply to the US and Asia.