The Trump administration is holding meetings with leading US oil companies to discuss re‑entry into Venezuela’s oil sector following the capture of President Nicolás Maduro Officials aim to explore how American energy firms could help revive and expand Venezuelan crude production, which has declined sharply over the past two decades.
Executives from Exxon Mobil, Chevron and ConocoPhillips say they have not yet been approached, contradicting President Trump’s earlier claim that consultations were already complete The upcoming talks are seen as the first serious discussions between the administration and industry regarding Venezuela.
Venezuela has some of the world’s largest proven oil reserves and its heavy crude matches US refinery requirements However infrastructure is degraded and legal and political uncertainties make investment risky Chevron is currently the only US oil major operating under a special licence while Exxon and Conoco pursue restitution claims.
Analysts warn that even if US firms return, boosting production will take years and require massive investment The administration is reportedly aiming to fast-track discussions and provide incentives to encourage participation.
It is unclear which executives will attend or whether companies will negotiate collectively or individually Antitrust concerns may limit joint discussions Market observers say the move could eventually increase Venezuelan output but immediate impact on global oil prices is likely limited.
The meetings reflect a strategic push by the Trump administration to align US energy interests with foreign policy objectives leveraging private investment to stabilize and expand Venezuela’s oil sector Analysts say progress will depend on legal clarity, infrastructure repair and political stability.