Trump Meets Oil Executives, Seeks $100B in Venezuela Oil Investments/ Newslooks/ WASHINGTON/ J. Mansour/ Morning Edition/ President Donald Trump met with major oil industry executives at the White House to secure up to $100 billion in investments aimed at revitalizing Venezuela’s vast oil reserves. The initiative comes amid U.S. assertions of controlling Venezuelan oil sales and following a recent military operation against former leader Nicolás Maduro. Oil companies remain cautious due to instability and lack of clear investment guarantees.
Trump Oil Investment Meeting Quick Looks
- Trump hosted a closed‑door White House meeting with oil executives
- Goal is to attract about $100 billion for Venezuelan oil sector
- Meeting followed recent U.S. military action against Nicolas Maduro
- U.S. claims control of 30–50 million barrels of Venezuelan oil
- U.S. plans to oversee Venezuelan oil sales indefinitely
- Executives from 17 companies attended, including Chevron, ExxonMobil
- International companies like Shell, Repsol also participated
- Trump frames move as way to reduce U.S. gasoline prices
- Companies remain cautious without strong legal, financial guarantees
- Venezuela’s production is below 1 million barrels per day
- Trust with interim Venezuelan leadership seen as key issue
- Cabinet officials including Marco Rubio and Chris Wright joined
Trump Meets Oil Executives, Seeks $100B in Venezuela Oil Investments
Deep Look
WASHINGTON — President Donald Trump convened a meeting with executives from dozens of oil companies at the White House Friday as part of a campaign to lure massive private investment into Venezuela’s struggling petroleum industry. The goal, according to administration officials, is to secure up to $100 billion in commitments to rehabilitate Venezuelan oil infrastructure and unlock the country’s extensive crude reserves.
Trump’s outreach comes in the wake of a bold U.S. military operation that captured former Venezuelan leader Nicolás Maduro. In the aftermath, the administration has presented the intervention not just as a geopolitical victory but as an economic opportunity for U.S. energy companies, asserting that the United States currently has control of the sales of 30 million to 50 million barrels of previously sanctioned Venezuelan oil and plans to manage those sales globally.
Friday’s meeting, scheduled for 2:30 p.m. Eastern time, was held behind closed doors. Trump highlighted the potential scale of investment in a pre‑dawn social media post, stating that “At least 100 Billion Dollars will be invested by BIG OIL,” and that he would be meeting with leadership from major oil firms.
Executives representing a wide range of U.S. and international energy interests attended, including Chevron — which still operates in Venezuela — and companies like ExxonMobil and ConocoPhillips, both of which had significant oil operations nationalized in Venezuela decades ago. Other firms at the meeting included Halliburton, Valero, Marathon, Shell, Singapore‑based Trafigura, Italy’s Eni, and Spain’s Repsol.
Despite Trump’s high expectations, many large U.S. oil companies have been hesitant to commit publicly to investment without clear contractual protections and guarantees. Firms have cited ongoing political instability, economic volatility, and legal uncertainties as obstacles to major capital deployment in Venezuela’s oil sector. Analysts say that any meaningful recovery of Venezuela’s oil output — which has fallen below one million barrels per day — would require extensive long‑term investment and infrastructure rebuilding.
The administration’s strategy extends beyond immediate investment inducements. By seizing Venezuelan oil tankers linked to the former regime and asserting control over crude sales, Trump has sought to demonstrate U.S. influence over Venezuela’s energy resources. This approach also ties into domestic concerns about gasoline affordability, with Trump framing increased Venezuelan production as a means to stabilize or reduce fuel prices in the United States.
However, there are broader geopolitical and operational questions that may temper industry enthusiasm. Oil executives are reported to be seeking serious guarantees, including legal protections and assurance of stability, before deploying major capital to Venezuela’s oil fields. There is also uncertainty about how the interim Venezuelan government, led by Delcy Rodríguez, will navigate contracts and security arrangements for foreign investors.
Senior administration officials, including Secretary of State Marco Rubio, Energy Secretary Chris Wright, and Interior Secretary Doug Burgum, were present at the White House meeting, underscoring the strategic importance the U.S. government places on the initiative.
To some observers, the move represents a broader shift in U.S. policy toward more direct economic engagement in Venezuela’s energy sector, potentially opening up opportunities for both domestic and international firms willing to commit to Venezuela’s oil renaissance. To others, the lack of firm guarantees and the scale of required investment mean that translating discussion into action will be a significant challenge.
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