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Oil Executives Skeptical of Trump's Venezuela Investment Plans

KVIA•Saturday, January 10, 2026 at 1:26 AM•CNN Newsource

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During a recent meeting at the White House, President Trump attempted to persuade oil executives to invest in a new drilling initiative in Venezuela. However, executives from major oil companies, including ExxonMobil, expressed significant skepticism, citing concerns over the country's stability and the need for legal and financial frameworks before committing funds. Trump aims to secure $100 billion in investments to revitalize Venezuela's oil production, but industry leaders warned that any investments would take years to materialize and would require substantial security guarantees. The lack of commitment from these companies complicates Trump's plans for Venezuela's political and economic overhaul.

Key Details: • Trump's goal is to secure $100 billion in investments for Venezuela's oil sector. • ExxonMobil CEO Darren Woods described Venezuela as 'uninvestible' due to legal and commercial uncertainties. • Chevron is the only U.S. oil company currently operating in Venezuela and may increase output by 50% with proper permissions. • Executives emphasized the need for security guarantees before investing in Venezuela.

trump investment venezuela energy oil

People & Organizations

Donald TrumpVenezuelaWhite HouseChris WrightChevronDarren WoodsHarold HammExxonMobil

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