Trump's Venezuela oil meeting starts with few concrete promises

BBC News - WorldCenterEN 4 min read 100% complete January 9, 2026 at 11:07 PM

AI Summary

long article 4 min

President Trump met with oil executives in Washington on Friday to encourage investment in Venezuela, following the recent seizure of Nicolás Maduro. Trump has suggested investments of at least $100 billion, but no immediate commitments were made. ExxonMobil's CEO stated that Venezuela is currently "un-investable" due to past asset seizures and instability. While executives acknowledged Venezuela's potential due to its vast oil reserves, they emphasized the need for significant changes within the country and a welcoming environment from the government and its people. Trump acknowledged past issues, like the nationalization of assets, but said his administration would work to strike a "deal" with companies to revive the industry.

Key Entities & Roles

Key Player Opposition Context

Eni 40% Repsol 40% ConocoPhillips 40% Washington 40% Chevron 50% Delcy Rodríguez 50% Darren Woods 50% Nicolás Maduro (Maduro) ×260% United States ×270% ExxonMobil 70% Donald Trump ×690% Venezuela ×890%

Keywords

venezuela oil 100% investment 80% oil executives 70% risk 60% oil reserves 60% financial commitments 50% nationalisation 50% international oil firms 40%