US EditionTrump promises oil executives ‘total safety’ if they invest in Venezuela after Maduro ouster
President Trump urged top U.S. oil firms to invest $100 billion to restore Venezuela's oil infrastructure after Maduro's removal; executives expressed cautious interest amid risks.
- On Friday, President Donald Trump will press oil executives from 17 major firms including ConocoPhillips, Exxon, Chevron, Repsol, Vitol and Trafigura to invest in boosting Venezuela's crude production.
- Nearly 20 years ago, Exxon and Conoco left Venezuela after nationalizations and remain owed billions, while Geoffrey Pyatt warned of risks amid the country's vast crude reserves.
- At the Miami conference, private meetings revealed executives offered few insights on Venezuela but stressed caution; Trey Adams said, `We have a yard in Colombia... but timing is right and customer-partner relationship`; Ali Moshiri added, `That decision must be made, it is the precondition for investors`.
- The U.S. lays out a three-step plan for Venezuela—stabilization, recovery ensuring U.S. oil company access, and transition—while foreign embassies arrange visits next week for American and European oil companies amid permits and licensing concerns.
- Future-impact: Large rebuilding costs mean investors demand clear returns as Secretary of Energy Chris Wright reiterated U.S. firms’ readiness to spend billions after forces removed Nicolás Maduro, while service companies await clear opportunities.
153 Articles
153 Articles
Top meeting at the White House: US President Donald Trump met with managers of 17 oil companies on Friday to convince them of investments.
Local 3 News
"It's Impossible to Invest": Trump's Proposal on Venezuela Meets with Skepticism From Oil Executives
US President Donald Trump on Friday tried to convince top oil executives with the promise of a new and extensive exploration campaign in Venezuela.
Trump outlines US-led revival of Venezuela oil sector
Washington: US President Donald Trump said the United States would directly oversee a plan allowing major American oil companies to help rebuild Venezuela’s “dilapidated” oil industry, presenting the initiative as a strategic reset in bilateral relations following the apprehension of Venezuelan leader Nicolas Maduro. Addressing senior oil and gas executives at the White House, Trump said Washington would determine which companies would be permit…
The president meets the managers of the oil giants, who ask for legal and financial stakes. "We will decide who can participate, you will have security guarantees"
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