US EditionExxon studies Venezuela return as Chevron plots immediate production bump
Trump and U.S. officials met nearly two dozen oil executives to seek $100 billion investment for rebuilding Venezuela's oil industry and securing U.S. control over its oil exports.
- A $100 billion pledge and a White House meeting with ExxonMobil CEO Darren Woods took place, with Trump promoting investment in Venezuela, as officials discussed rebuilding efforts.
- On Friday, the Trump administration claims it is running Venezuela and is selectively rolling back sanctions to enable oil sales, following the military's capture of Nicolás Maduro.
- Executives told reporters they seek government guarantees before investing in Venezuela, as unpaid arbitration awards—about $1 billion for ExxonMobil and nearly $14 billion for ConocoPhillips—heighten industry caution.
- The U.S. Department of Energy plans to ship light oil for blending and upgrade infrastructure, with initial revenues held in U.S. Treasury accounts, as marketing begins, according to officials.
- One estimate by Rystad Energy put the restoration price tag at $183 billion to reach 3 million barrels per day, and Trump conceded it would take "tens of billions of dollars and significant time" while Chevron remains the only U.S. firm operating in Venezuela.
332 Articles
332 Articles
Trump Just Gave Himself a New Title — Because Normal Presidential Ego Was Just Too Small
Donald Trump — 79 years old, commander-in-chief, and apparently still incapable of grasping geopolitics or humility — just upped his personal résumé in a way no seasoned diplomat, sane strategist, or sober observer expected. In a Truth Social post that can best be described as “capitol-off idiocy,” Trump proclaimed himself the “acting president of Venezuela. Yes, that, Venezuela — a sovereign nation with its own leadership and constitution. The …
U.S. Energy Secretary Chris Wright said this Sunday that oil companies Chevron, Shell, Repsol and ENI will “lift up immediately” their investment in Venezuela after their meeting with U.S. President Donald Trump.Continue reading...
President Donald Trump called the leaders of the oil giants to the White House to encourage them to invest in Latin America.
They admit the potential of the country, but will not invest without political and legal guarantees
Zero Hedge
BizToc"Uninvestable": Trump's $100 Billion Venezuela Gamble Meets Oil Industry Reality
"Uninvestable": Trump's $100 Billion Venezuela Gamble Meets Oil Industry Reality President Donald Trump’s push for U.S. oil companies to commit at least $100 billion toward rebuilding Venezuela’s energy industry is meeting significant resistance from the very executives he is courting, according to Bloomberg. Although the White House projects confidence, industry leaders are warning that Venezuela remains too unstable for major investment, with …
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