Trump Administration Presses US Oil Executives on Venezuela Energy Revival
The TRUMP administration is initiating its first formal discussions with major US oil executives this week, urging them to consider reinvesting in Venezuela's crippled energy sector. Energy Secretary Chris Wright and Interior Secretary Doug Burgum are leading the outreach, following President Trump's public call for American companies to revive the country's oil infrastructure.
Continental Resources remains the only US firm to publicly express interest, while others demand financial guarantees and security assurances before committing. Executives cite political instability and unresolved asset seizures as key concerns.
The administration's push comes months after Trump suggested US companies WOULD "spend billions" rebuilding Venezuela's oil industry following Nicolás Maduro's arrest. Market observers note the potential geopolitical implications of renewed American investment in the sanctioned nation's energy sector.
