Challenges Loom Over Trump's Push for Venezuelan Oil Investments

Sun Jan 11 2026 05:15:23 GMT+0200 (Eastern European Standard Time)

In a recent meeting with oil executives, President Trump called for significant investments in Venezuela's oil sector, but industry leaders remain skeptical about the country's investment potential amid ongoing risks.

President Donald Trump's meeting with oil executives aimed at securing major investments in Venezuela's oil sector delivered few concrete commitments. While Trump anticipates $100 billion in investments, executives highlighted severe risks that make Venezuela currently 'un-investable.' The meeting raised questions about the future of oil production in the country, which sits on vast reserves but suffers from decades of mismanagement and US sanctions.

US President Donald Trump met with oil executives in Washington on Friday, as he pushed for major investments in Venezuela.

But no major financial commitments were immediately forthcoming from the meeting, with the head of ExxonMobil warning the South American country was currently un-investable.

Trump has said he expects big oil companies to direct at least $100bn (£75bn) toward the country, but industry analysts have warned many companies will be reluctant to go into a situation that still carries significant risk.

Last week the US seized Venezuelan leader Nicolás Maduro, who is now being held in jail in New York.

Maduro's second-in-command, vice president Delcy Rodríguez, who is seen as more of a pragmatist, is now interim president.

Executives of the biggest US oil majors who attended the meeting acknowledged that the country, which is sitting on vast proven oil reserves, represents a major opportunity.

But at a press conference with Trump they warned they would need to see significant changes inside Venezuela, as well as a welcome from the local government and its people, to make it an attractive place to put money.

We have had our assets seized there twice and so you can imagine to re-enter a third time would require some pretty significant changes from what we've historically seen and what is currently the state, Exxon's chief executive Darren Woods said. Today it's un-investable.

Venezuela has had a complicated relationship with international oil firms since oil was discovered in its territory more than 100 years ago.

Certain firms are still optimistic. Chevron expects to bolster output, while Repsol aims to triple its production in Venezuela under favorable conditions. However, analysts urge caution, emphasizing the need for legal certainty and political stability before large investments can be made.

Overall, while Trump's call for investment in Venezuela highlights the country’s potential, many industry leaders indicate that serious barriers remain in place before any major commitments can materialize.