"President Trump recently hosted oil executives at the White House to promote his plan for rebuilding Venezuela's oil industry. He outlined billions in investments from U.S. companies, backed by security guarantees, to revive production from around 800,000 barrels per day to potentially 3 million over a decade. While presented as a key opportunity for the U.S. oil industry, Exxon Mobil ( ) showed little enthusiasm. CEO Darren Woods called Venezuela "uninvestable" without major reforms to its legal and commercial systems,"
"The world was shocked to awaken Jan. 3 to the news of the U.S.-led raid on Caracas that resulted in the capture of Venezuelan President Nicolas Maduro and his wife. Maduro is now in U.S. custody, with Vice President Delcy Rodríguez serving as interim leader. Trump announced that the U.S. would oversee Venezuela's operations during the transition, including indefinite control over oil sales to ensure stability and revenue protection. An executive order shields these revenues from legal claims."
President Trump hosted oil executives to promote a plan for rebuilding Venezuela's oil industry, proposing billions in U.S. investment and security guarantees to raise production from about 800,000 barrels per day toward 3 million over a decade. Exxon Mobil expressed reluctance, with CEO Darren Woods calling Venezuela "uninvestable" without major legal and commercial reforms after prior asset seizures. Trump threatened to exclude Exxon after the company's response. A U.S.-led raid on Jan. 3 captured President Nicolás Maduro and placed him in U.S. custody, while the U.S. assumed oversight of operations and control of oil sales, with an executive order protecting revenues; the effort aims to access 303 billion barrels, mainly heavy Orinoco Belt crude, amid concerns about long-term political risk and potential policy reversals.
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