President Donald Trump has urged major American oil companies to rapidly re-establish operations in Venezuela, pitching the country’s battered petroleum sector as a major investment opportunity following last weekend’s U.S. military operation that led to the capture of former Venezuelan leader Nicolás Maduro.
Addressing senior oil executives at the White House on Friday, Trump framed the intervention not only as a political turning point but also as a gateway for American energy firms to reshape Venezuela’s oil industry. The administration is seeking as much as $100 billion in private investment to restore infrastructure, ramp up production, and reassert U.S. influence over one of the world’s largest proven crude reserves, as per a report on Reuters.
Washington Moves To Control Venezuelan Oil Flows
Trump announced that the United States has seized multiple Venezuelan oil tankers and will now take long-term control of the international sale of between 30 million and 50 million barrels of crude that had previously been frozen under sanctions. According to the president, Washington’s oversight of exports will continue indefinitely, marking a dramatic shift in how Venezuelan oil reaches global markets.
U.S. forces have continued intercepting tankers as part of enforcement efforts, with a fifth vessel reportedly seized on Friday. Administration officials argue that managing oil revenues is essential to prevent corruption, disrupt drug trafficking networks, and ensure that Venezuela’s energy wealth aligns with U.S. strategic priorities.
Oil Giants Offered A Role In Rebuilding Infrastructure
At the White House meeting, executives from Exxon Mobil, Chevron, ConocoPhillips and other major firms were encouraged to take part in rebuilding Venezuela’s decaying energy infrastructure, as per a report on AP. Trump acknowledged the country’s long record of asset nationalization, political instability and sanctions, but insisted those risks should no longer deter American companies.
He made clear that participation would not be open-ended, stressing that his administration would decide which companies are permitted to operate in Venezuela. The plan, he said, would allow U.S. firms to dramatically increase output and modernize facilities that have suffered years of neglect and underinvestment.
Crude Shipments To U.S. Tied To Energy Prices
Trump also highlighted an agreement with Venezuela’s interim government to supply 50 million barrels of crude directly to the United States. He noted that American refineries are well-suited to process Venezuelan oil and predicted that shipments would continue on a regular basis. The arrangement, he claimed, would help stabilize supplies and push domestic fuel prices lower.
