Summary:
White House confirms talks with US oil companies on Venezuela
Trump says firms could invest billions to rebuild energy sector
Officials declined to name companies or timing of discussions
Reuters reports major firms deny talks on Maduro’s overthrow
Chevron remains only US major operating in Venezuela
The Trump administration has held discussions with multiple US oil companies about Venezuela, according to a White House official, as Washington signals an ambitious vision for rebuilding the country’s long-degraded energy sector following the removal of former president Nicolás Maduro.
Speaking over the weekend, Donald Trump said US oil firms were prepared to invest billions of dollars into Venezuela’s energy industry, framing the country as a major reconstruction opportunity after years of mismanagement, sanctions and underinvestment. Administration officials have since confirmed that conversations with industry participants have taken place, although they declined to identify the companies involved or provide details on the timing or substance of those talks.
White House spokeswoman Taylor Rogers said Monday that US energy companies are “ready and willing to make big investments” aimed at rebuilding Venezuela’s oil infrastructure, which she described as having been “destroyed by the illegitimate Maduro regime.” The comments underline the administration’s view that Venezuela’s vast hydrocarbon reserves could once again play a significant role in global energy markets if political and operational constraints are removed.
However, there are signs of caution from parts of the industry. Earlier reporting by Reuters indicated that Chevron, ConocoPhillips and ExxonMobil had not held discussions with the administration specifically about Maduro’s overthrow. That divergence highlights uncertainty around the pace at which political developments translate into concrete investment commitments.
Chevron remains the only major US oil producer with an operational presence in Venezuela, operating under limited licences granted by Washington. The company, along with ConocoPhillips and ExxonMobil, has been approached for comment by CNBC.
Meanwhile, US Energy Secretary Chris Wright is scheduled to attend an energy conference hosted by Goldman Sachs in Miami this week, alongside senior executives from Chevron and ConocoPhillips. The gathering is expected to provide a forum for informal discussions on geopolitics, energy security and potential investment opportunities, including Venezuela.
While the administration’s rhetoric points to optimism, translating that vision into large-scale capital deployment will depend on political stability, legal certainty and the future of US sanctions policy.
