U.S. President Donald Trump has been encouraging American oil companies to consider large-scale investment in Venezuela’s vast but deteriorated oil industry, presenting what he calls a major economic opportunity following recent political developments. At a White House meeting, Trump urged executives from major firms including ExxonMobil, Chevron and ConocoPhillips to invest billions of dollars to rebuild infrastructure and boost production, promising “total safety” and U.S. protection for their operations.
Despite the administration’s push and discussion of potential contract incentives, many oil industry leaders have remained cautious. Some executives note that Venezuela’s political volatility, past expropriations and the need for legal clarity make large new investments risky, with at least one major CEO describing the country as “uninvestable” without significant reforms.
Energy sector analysts also point out that restoring Venezuela’s oil production to previous levels would require extensive funding and time, and that weaker global oil prices and infrastructure challenges further complicate the economics of large investment commitments.
The situation has drawn attention from global energy markets and investors, with some hoping that access to Venezuela’s crude could diversify supply, while others emphasise that caution is likely to dominate until clearer legal and regulatory frameworks are in place.
