Trump urges US firms revive Venezuela's oil industry
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WASHINGTON: President Donald Trump met oil executives at the White House on Friday and urged US energy firms to invest up to $100 billion to rebuild Venezuela’s oil industry after US forces captured Nicolás Maduro earlier week. He said the United States would choose which companies may operate in Venezuela, guarantee their security, and arrange deliveries of Venezuelan crude to US refineries. Energy Secretary Chris Wright cited record US oil and gas production, and some executives expressed caution about investment without reforms. Trump said the US would handle sales of sanctioned barrels. Based on 6 articles reviewed and supporting research.
More context
Timeline
- 1. Early January: Reports emerge that U.S. forces captured Venezuelan leader Nicolás Maduro.
- 2. Shortly after: U.S. authorities reportedly seized tankers and asserted control over millions of barrels of Venezuelan crude.
- 3. Following the seizure: President Trump hosted major oil executives at the White House to discuss Venezuelan investment and supply.
- 4. During the meeting: Trump proposed up to $100 billion in investment and said the U.S. would select firms and guarantee security.
- 5. After the meeting: Some executives expressed skepticism about investing without sweeping reforms and legal clarity.
Sources
JQJO Editorial Desk · Human reviewed · AI assisted. Report a correction.
