China Built a Vast Oil Stake in Venezuela. Now It Risks Getting Muscled Out.

When Venezuela booted out American oil companies in a nationalization campaign nearly two decades ago, China stepped in. Now, Beijing’s foothold there is in doubt as the U.S. asserts new power over Venezuela’s oil patch.

​​Chinese government-owned oil companies hold claims to more than 4 billion barrels of Venezuelan oil, nearly five times as much as the only U.S. major that today produces in the South American nation,

Chevron. Beijing’s production deals, oil rigs and debt-backed supply arrangements have long bought it enormous sway in Venezuela—all of it now suddenly subject to the Trump administration’s preferences.