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| Trump Pushes U.S. Oil Giants to Revive Venezuela’s Collapsing Energy Sector |
In a high-stakes move at the White House, former President Donald Trump urged major U.S. oil companies to invest $100 billion in rebuilding Venezuela’s deteriorating energy infrastructure. The appeal centers on reviving the Venezuela oil industry revival, which has collapsed despite the country holding the world’s largest proven oil reserves.
Trump met with executives from ExxonMobil, Chevron, and ConocoPhillips on January 9, 2026, following the controversial U.S.-led capture of Venezuelan leader Nicolás Maduro on January 3. He emphasized that American firms would lead efforts to restore production to unprecedented levels.
Exxon CEO Darren Woods labeled Venezuela “uninvestable” due to past asset seizures and ongoing political risks. Chevron remains the only U.S. major still operating there but is proceeding cautiously amid uncertainty over long-term stability.
Smaller energy firms and private equity groups also attended the meeting, expressing willingness to market Venezuelan crude under U.S. licenses. However, skepticism persists across the industry over whether conditions support large-scale reinvestment.
The Trump administration proposed using the U.S. Export-Import Bank to de-risk projects and guarantee investor returns. Yet analysts warn that without transparent governance and legal safeguards, the Venezuela oil industry revival remains unlikely.
