President Donald Trump meets with top U.S. and international oil executives at the White House on January 9, 2026, aiming to secure billions in energy investments in Venezuela’s oil sector. The closed-door session includes leaders from Chevron, ExxonMobil, ConocoPhillips, Valero, Shell, Repsol, Eni, and others, as the administration pushes to rehabilitate Venezuela’s long-struggling state-run oil industry.
Trump frames the initiative as a strategic move to boost global oil supply and stabilize prices, noting that U.S. forces now control access to millions of barrels of Venezuelan crude following recent sanctions enforcement and maritime actions. He positions Venezuela’s oil reserves as a key geopolitical and economic asset, and urges U.S. companies to lead the rebuilding effort.
The meeting includes high-level officials like Secretary of State Marco Rubio, Energy Secretary Chris Wright, and Interior Secretary Doug Burgum, signaling the administration’s coordinated energy and foreign policy agenda. According to internal briefings, the White House seeks up to $100 billion in new oil infrastructure investment over the next decade.
Industry leaders express interest but also raise concerns. Venezuela’s energy sector remains fraught with legal, political, and infrastructure risks. Years of underinvestment, corruption, and economic sanctions have left refineries and pipelines in disrepair. Analysts caution that without major governance reforms and investment protections, companies may hesitate to commit capital.
The Trump administration’s push reflects a broader effort to extend U.S. influence in Latin America’s energy landscape while using Venezuela’s resources to counterbalance oil market volatility. Whether this overture translates into concrete deals remains to be seen.
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