BREAKING: U.S. Push for Venezuelan Oil Investment Faces Industry Pushback 🇻🇪🛢️
President Donald Trump has been urging major U.S. oil companies to consider large-scale investment in Venezuela’s energy sector, following recent political changes in the country. Trump has publicly sought commitments of up to $100 billion to help rebuild and expand Venezuelan oil production.
However, some executives — notably ExxonMobil’s CEO — characterized Venezuela as “uninvestable” under current legal and commercial conditions, and Trump said he is “inclined” to leave Exxon out of these plans after their response.
Other firms, including Chevron, have expressed more cautious interest in expanding operations, and U.S. regulators are expected to grant Chevron an expanded operating license in Venezuela this week as part of broader efforts to revive oil production there.
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