President Donald Trump is meeting with leading oil executives at the White House on Friday, aiming to secure $100 billion in investments to fully utilize Venezuela's extensive petroleum reserves. This initiative comes amidst ongoing political and economic turmoil in Venezuela, raising questions about the investment security in the region.
This strategic move follows a U.S. military action last weekend to capture former Venezuelan President Nicolás Maduro, which has been portrayed by Trump as an opportunity for economic revival, showcasing U.S. control over sales from previously sanctioned Venezuelan oil.
During the meeting—scheduled for 2:30 p.m. EST—the President expressed optimism on social media, asserting that “at least $100 billion will be invested by BIG OIL,” highlighting the importance of securing commitments from major companies like Chevron, ExxonMobil, and ConocoPhillips.
Despite the potential upside, large U.S. oil companies remain cautious, requiring contractual assurances and guarantees before committing to significant investments in a country where oil production has plummeted below one million barrels per day. Trump aims to alleviate concerns by promising U.S. support to backstop these investments and create a stable environment for operations, which will be essential for recovering Venezuela’s oil output to beneficial levels.
As U.S. domestic energy prices fluctuate, Trump’s initiative seeks not only to lower gasoline prices for Americans but also to re-establish a foothold in the Venezuelan oil market, which had been largely lost due to prior nationalization efforts. The backdrop to this effort includes a complex relationship with current Venezuelan leadership and geopolitical dynamics affecting energy security in the region.
