Trump Pushes Private Investment in Venezuela Oil as Executives Remain Skeptical
Updated (2 articles)
Trump Claims Authority Over U.S. Firm Access He told a White House gathering that he will personally select which American oil companies may operate in Venezuela, linking the effort to private capital rather than government funding. He framed the initiative as essential to reviving Venezuela’s output and stabilizing the region. Energy Secretary Chris Wright noted strong interest but said no financing or timelines were finalized. [1][2]
Big Oil Labels Venezuela Uninvestible Without Guarantees ExxonMobil chief Darren Woods described the country as “uninvestible” given legal ambiguities and security risks, echoing concerns from ConocoPhillips and Chevron executives. Industry leaders demanded extensive security and financial guarantees before committing capital or personnel. Investor Harold Hamm warned that any large‑scale reinvestment would require substantial assurances and a long horizon. No firm commitments emerged from the meeting. [1][2]
U.S. Leverages Human‑Rights and Legal Pressure Venezuela released nine political prisoners after U.S. officials pressed the interim government, a fraction of the total detainees. The United States also indicted Nicolás Maduro’s son, Nicolás Maduro Guerra, on cocaine‑import and weapons charges, intensifying legal pressure on the regime. Acting president Delcy Rodríguez responded by rallying Brazil, Colombia and Spain to condemn what she called U.S. criminal aggression. [1]
Administration Sets $100 B Target Amid Regional Gambits White House officials described the $100 billion investment goal as a long‑term trajectory rather than an immediate cash infusion. Trump reiterated a hard‑line stance on Greenland, suggesting payments could be considered if negotiations stall, signaling a broader strategy of regional leverage. Both statements underscore the administration’s willingness to use diplomatic and economic pressure to achieve oil sector goals. [1][2]
Sources (2 articles)
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[1]
CNN: Trump Presses Oil Executives on Venezuela Plan as Firms Weigh Deals and Regional Tensions Rise: Details Trump’s personal selection claim, executive caution, prisoner releases, indictment, and Greenland stance, emphasizing the gap between rhetoric and firm commitments.
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[2]
CNN: Trump's Venezuela Oil Push Faces Industry Skepticism from Big Oil: Focuses on executive skepticism, Woods’ “uninvestible” label, demand for security guarantees, and the administration’s $100 billion long‑term goal, highlighting lack of immediate industry backing.
Timeline
Jan 9, 2026 – Trump meets with senior energy executives at the White House and tells them he will personally decide which U.S. firms may enter Venezuela to rebuild its oil industry, urging private money to fund the effort; the executives respond cautiously and make no firm commitments[2].
Jan 9, 2026 – ExxonMobil CEO Darren Woods declares Venezuela “uninvestible” under the current legal and security framework, underscoring the steep barriers to any rapid private‑sector entry[2].
Jan 9, 2026 – Energy Secretary Chris Wright notes substantial interest from U.S. firms but stresses that no binding financing or timelines have been agreed, highlighting the gap between Trump’s rhetoric and concrete deals[2].
Jan 9, 2026 – Venezuelan authorities release at least nine political prisoners – a tiny fraction of those held – after sustained U.S. pressure since Nicolás Maduro’s ouster, offering a modest diplomatic concession amid rising tensions[2].
Jan 9, 2026 – U.S. prosecutors indict Nicolás Maduro Guerra, the former president’s son, on conspiracy to import cocaine and weapons‑related offenses; he publicly rejects the charges, and analysts view him as a symbolic figure for hard‑line Chavismo[2].
Jan 9, 2026 – Acting president Delcy Rodríguez contacts leaders in Brazil, Colombia and Spain, condemning U.S. actions as “serious criminal aggression” and discussing the reopening of embassies, signaling coordinated regional pushback against Washington’s pressure[2].
Jan 9, 2026 – Trump doubles down on his Greenland strategy, saying he will pursue the “hard way” if a deal cannot be reached, linking his aggressive regional posture to the simultaneous Venezuela oil push[2].
Jan 10, 2026 – Trump again pitches an expansive Venezuela drilling plan to senior executives, framing it as a $100 billion, long‑term effort to revive the country’s oil output and economy, but the meeting yields no major commitments from the industry[1].
Jan 10, 2026 – Oil‑industry leaders demand extensive security and financial guarantees before committing capital, warning that political instability could jeopardize personnel, equipment and long‑term timelines[1].
Jan 10, 2026 – Oil investor Harold Hamm warns that the plan requires substantial assurances and a prolonged horizon before he would back the reinvestment scheme, emphasizing the need for concrete risk mitigation[1].
Jan 10, 2026 – Chevron signals that it could boost output if it secures the required permits from the administration, but its participation remains contingent on political and regulatory guarantees[1].
Jan 10, 2026 – White House officials stress that the $100 billion target represents a trajectory rather than an immediate outcome, underscoring the long‑term nature of rebuilding Venezuela’s oil sector[1].