Washington, D.C., January 10, 2026
Major U.S. oil executives have raised concerns over President Trump’s call for $100 billion investments to revitalize Venezuela’s oil sector post-Maduro. Executives from ExxonMobil and ConocoPhillips highlighted issues such as legal frameworks and the need for reforms in Venezuela’s oil company, PDVSA. While some industry leaders are considering exploration in the region, the path to a successful investment remains complex due to ongoing political instability and a need for significant infrastructure rebuilding.
Washington, D.C.
Major U.S. oil executives have expressed caution regarding President Donald Trump’s proposal to invest at least $100 billion in revitalizing Venezuela’s oil industry.
During a recent meeting at the White House, President Trump urged nearly 20 industry leaders to consider substantial investments in Venezuela’s oil sector following the ousting of President Nicolás Maduro. He emphasized the potential for significant returns and assured executives of “total safety” in their operations.
Despite the president’s assurances, executives from major oil companies, including ExxonMobil and ConocoPhillips, have expressed reservations. ExxonMobil CEO Darren Woods stated that Venezuela is currently “uninvestable,” citing concerns over legal and commercial frameworks, as well as the country’s history of asset seizures.
ConocoPhillips CEO Ryan Lance highlighted the need for comprehensive reforms within Venezuela’s energy system before considering significant investments. He emphasized the importance of restructuring the state oil company, PDVSA, to create a more favorable investment environment.
While some companies have shown interest in exploring opportunities, the overall response underscores the challenges in rebuilding Venezuela’s oil infrastructure. The country, which holds the world’s largest proven oil reserves, has seen its production decline to less than 1 million barrels per day due to years of underinvestment and political instability.
The Trump administration’s initiative aims to leverage Venezuela’s oil wealth to influence regional dynamics and address domestic energy concerns. However, the path to revitalizing the sector remains complex, requiring substantial investment and significant reforms to ensure a stable and profitable operating environment.
FAQ
What is President Trump’s proposal regarding Venezuela’s oil industry?
President Trump has proposed that major U.S. oil companies invest at least $100 billion to rebuild and revitalize Venezuela’s oil sector following the ousting of President Nicolás Maduro.
How have oil executives responded to this proposal?
Executives from major oil companies, including ExxonMobil and ConocoPhillips, have expressed caution. ExxonMobil CEO Darren Woods described Venezuela as “uninvestable,” citing concerns over legal and commercial frameworks and the country’s history of asset seizures.
What challenges are associated with revitalizing Venezuela’s oil industry?
Challenges include rebuilding the country’s oil infrastructure, addressing political instability, and implementing necessary reforms within the state oil company, PDVSA, to create a more favorable investment environment.
Key Features
| Feature | Details |
|---|---|
| Proposal | Invest at least $100 billion to rebuild Venezuela’s oil industry. |
| Executive Response | ExxonMobil CEO calls Venezuela “uninvestable”; ConocoPhillips emphasizes need for reforms. |
| Challenges | Rebuilding infrastructure, political instability, and necessary reforms within PDVSA. |
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