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Thursday, Jan 08, 2026
Outside the box.
U.S. Oil Leaders to Meet with White House as Trump Pursues Venezuelan Energy Revival
Senior executives from major American oil companies are set to discuss investment opportunities in Venezuela with White House officials amid strategic efforts to restore the country’s oil output
Senior executives from the United States’ largest oil companies are expected to meet with White House officials as early as Thursday to discuss potential investment initiatives in Venezuela’s oil industry, according to multiple sources familiar with planning for the session.
The discussions will focus on how U.S. energy firms might contribute to revitalising Venezuela’s ageing and under-invested oil infrastructure following recent shifts in Washington’s policy toward Caracas.
The timing and precise agenda of the meeting are still being finalised, with officials and industry representatives continuing to coordinate details.
The outreach comes as the Trump administration seeks to leverage Venezuela’s vast crude reserves to bolster U.S. energy interests and global market position, particularly after a dramatic change in the political landscape there.
U.S. forces removed Venezuelan President Nicolás Maduro from power in a recent operation, and Washington has signalled its intention to reintegrate the country into broader commercial and strategic frameworks.
President Donald Trump has suggested that American oil companies could play a central role in rebuilding Venezuela’s oil sector, estimating that significant investment could restore production within months, and hinting that the government might reimburse firms either directly or through future revenue streams.
This strategy aligns with his broader energy agenda to expand U.S. influence in global oil markets and ensure energy security.
Chevron is currently the only major U.S. oil company still operating in Venezuela, while ExxonMobil and ConocoPhillips previously exited the country after nationalisation of their assets.
The potential return of these firms, if they choose to engage, would mark a significant shift in the industry’s posture toward the region.
Analysts caution that Venezuela’s deeply degraded infrastructure, legal complexities and long-term development needs present substantive challenges that may require years and substantial capital to address.
Nonetheless, the White House move to consult with industry leaders underscores the administration’s commitment to advancing American energy interests abroad and exploring avenues for strategic expansion in Latin America.
The discussions will focus on how U.S. energy firms might contribute to revitalising Venezuela’s ageing and under-invested oil infrastructure following recent shifts in Washington’s policy toward Caracas.
The timing and precise agenda of the meeting are still being finalised, with officials and industry representatives continuing to coordinate details.
The outreach comes as the Trump administration seeks to leverage Venezuela’s vast crude reserves to bolster U.S. energy interests and global market position, particularly after a dramatic change in the political landscape there.
U.S. forces removed Venezuelan President Nicolás Maduro from power in a recent operation, and Washington has signalled its intention to reintegrate the country into broader commercial and strategic frameworks.
President Donald Trump has suggested that American oil companies could play a central role in rebuilding Venezuela’s oil sector, estimating that significant investment could restore production within months, and hinting that the government might reimburse firms either directly or through future revenue streams.
This strategy aligns with his broader energy agenda to expand U.S. influence in global oil markets and ensure energy security.
Chevron is currently the only major U.S. oil company still operating in Venezuela, while ExxonMobil and ConocoPhillips previously exited the country after nationalisation of their assets.
The potential return of these firms, if they choose to engage, would mark a significant shift in the industry’s posture toward the region.
Analysts caution that Venezuela’s deeply degraded infrastructure, legal complexities and long-term development needs present substantive challenges that may require years and substantial capital to address.
Nonetheless, the White House move to consult with industry leaders underscores the administration’s commitment to advancing American energy interests abroad and exploring avenues for strategic expansion in Latin America.
