Trump to Meet Top US Oil Executives Following Venezuela Leader Seizure
The meeting comes after US forces captured Venezuelan President Nicolas Maduro on January 3 in a sweeping military operation, with Trump openly stating that control of Venezuela’s oil reserves was central to his actions
By : Mweru Mbugua
US President Donald Trump is set to meet with the heads of major US oil companies on Friday, as he seeks support for his plans in Venezuela, a nation whose vast energy resources he claims to control for years to come
The meeting comes after US forces captured Venezuelan President Nicolas Maduro on January 3 in a sweeping military operation, with Trump openly stating that control of Venezuela’s oil reserves was central to his actions
“Washington has maximum leverage over the interim authorities in Venezuela right now,” White House Press Secretary Karoline Leavitt said, confirming the scheduled talks with top US oil executives
Trump told Fox News on Thursday that “we’re meeting tomorrow with all of the big oil executives, they’re going to be right here in the White House”
The Trump administration has repeatedly stated that it is overseeing Venezuela, with Energy Secretary Chris Wright asserting that Washington will manage the country’s oil industry “indefinitely”
Meanwhile, Venezuelan interim President Delcy Rodriguez maintains that her government remains in charge, with the state-run oil company in negotiations with the United States on oil sales
Executives from Exxon Mobil, Chevron, and ConocoPhillips are expected to attend the White House meeting, according to NBC News
Chevron is currently the only US company licensed to operate in Venezuela, as Exxon Mobil and ConocoPhillips withdrew in 2007 after rejecting demands from then-President Hugo Chavez to cede majority stakes to the government
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Venezuela, sanctioned by Washington since 2019, holds about a fifth of the world’s oil reserves but produced only around one percent of global output in 2024, hindered by underinvestment, sanctions, and embargoes
Trump sees the reserves as key to lowering US domestic fuel prices
On Tuesday, Trump announced that Venezuela’s interim government would deliver up to 50 million barrels of oil to the United States, with proceeds “controlled by me” to benefit both Venezuelans and Americans
The US Energy Department also plans to assist with refining and infrastructure upgrades to facilitate production
The White House emphasized that this meeting is intended to explore the “immense opportunity” available to US oil companies, although uncertainties over governance, security, and the costs of restoring Venezuelan oil production remain significant challenges
