By Mauricio Torres, Gonzalo Zegarra, Germán Padinger, Jhasua Razo, CNN
(CNN) — In a perpetually changing Latin America, there was only one certainty in the last 25 years: a socialist and oil-rich Venezuela and its constant confrontation with the United States.
This year, tensions reached unprecedented levels following a US military buildup in the Caribbean, attacks on boats allegedly carrying drugs that Washington linked to Caracas, and President Donald Trump’s maximum-pressure campaign on his Venezuelan counterpart, Nicolás Maduro, and on oil, the country’s lifeline.
How did we get here?
The following is a deep look at contemporary Venezuela, its history, its riches, its alliances and its delicate internal balance of power amid growing tensions with the US.
General information
Official name: Bolivarian Republic of Venezuela
Geography: Venezuela has a land area of 912,050 square kilometers (352,144 square miles), according to the World Bank. It is bordered to the north by the Caribbean Sea and the Atlantic Ocean, to the west by Colombia, to the south by Brazil and to the east by Guyana.
Population: At the end of 2023, the country had a population of 33,800,393, according to Venezuela’s National Institute of Statistics, which projected an increase to 34.4 million by the end of 2025.
Migration: At least 7.9 million Venezuelans have migrated from the country in search of safety or better living conditions, according to UN figures. Most of these migrants have settled in South American countries such as Colombia, Peru and Chile.
Presidents
Maduro was sworn in on January 10, 2025, for a new term that is expected to last until 2031. His inauguration followed a declaration of victory in a July 2024 presidential election, which was disputed by the opposition and several governments in the region. He has been in power for almost 13 years since the death of his “political father,” Hugo Chávez, who ruled for nearly 14 years.
These are the presidents who have governed the country since 1958, when the dictatorship of Marcos Pérez Jiménez fell:
Resources and wealth
Venezuela’s main economic driver is oil, in a production model that is not very diversified. The country has the world’s largest reserves of extra-heavy crude, a variety that requires a more complex and expensive refining process but which is also compatible with US refineries.
Despite sanctions, crude oil exports rose in 2025 to an average of more than 900,000 barrels per day, according to the Organization of the Petroleum Exporting Countries (OPEC), exceeding production levels of the previous three years. However, this figure is less than half of what Venezuela pumped in 2013, and less than a third of the 3.5 million barrels per day produced before Chávez came to power in 1999.
Associated with this industry (and also characterized by low investment and exploration) are natural gas exports. The US Energy Information Administration (EIA) estimates that Venezuela has reserves of 5.5 trillion cubic meters of natural gas, representing 73% of the reserves in South America.
In the last decade, faced with the fall in oil revenue, the government tri