US Oil Majors Weigh Venezuela Investment Following Trump's Announcement

High-Level Meeting at White House

US President Donald Trump hosted top executives from major American oil companies, including ExxonMobil CEO Darren Woods, ConocoPhillips CEO Ryan Lance, and Chevron's Mark Nelson, to discuss potential investments in Venezuela's energy sector ¹

. The meeting came after a US military operation targeting Venezuelan leader Nicolás Maduro on January 3, 2026.

Investment Plans and Conditions

Trump announced that US oil majors are planning to invest at least US$100 billion in rebuilding Venezuela's energy infrastructure. In return, the US government has promised to provide security and protection to ensure these investments are profitable. However, oil executives expressed significant reservations about committing funds without substantial changes in Venezuela's political and economic environment ¹

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Executive Concerns and Previous Experiences

Darren Woods of ExxonMobil highlighted that his company had lost assets in Venezuela twice previously. Woods stated that Venezuela is currently "not investable" and that significant improvements are needed before they would consider returning ²

. Other executives shared similar concerns, emphasizing that while Venezuela has substantial energy reserves, the current conditions remain challenging.

Market and Geopolitical Implications

The potential investment has significant implications for both the US energy market and global geopolitics. Trump framed the investment as a way to achieve lower energy prices for Americans. However, the lack of immediate commitments from oil majors suggests that actual investment remains uncertain ¹

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