US President Donald Trump met with executives from the world’s largest oil companies at the White House to discuss expanding oil production in Venezuela, following the recent US capture of Venezuelan leader Nicolás Maduro. Trump promised oil giants “total safety” for their investments in Venezuela and urged them to commit $100 billion to rebuild and modernise the country’s crumbling energy infrastructure.
The meeting included top executives from major firms such as ExxonMobil, Chevron, ConocoPhillips, Shell, Vitol, and Trafigura, among others, as Trump outlined plans for US companies to lead the revival of Venezuela’s oil industry. While some companies expressed cautious interest, others noted concerns over legal and commercial conditions in the country. Trump highlighted an agreement with Venezuela’s interim leaders that would see up to 50 million barrels of crude oil supplied to the US. The trump administration intends to control Venezuelan oil sales and revenues indefinitely.
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