‘Deal With Us Directly’: Trump Pitches Venezuela’s Oil Riches To US Executives, Claims US Will Call The Shots
US President Donald Trump on Friday (Jan 9) pressed leading American oil executives to invest heavily in Venezuela’s massive oil reserves, declaring the nation “open for business” following the stunning US capture of ex-president Nicolas Maduro. Oil industry leaders, though, responded with notable restraint.
‘Deal with Us Directly’
From the White House, Trump made it clear to the executives that the United States not Caracas would determine which firms gain access to Venezuela’s oil fields. “We’re going to be making the decision as to which oil companies are going to go in,” he stated. “(We’re) going to cut a deal with the companies.”
Joining him were Vice President JD Vance, Secretary of State Marco Rubio, and Energy Secretary Chris Wright, along with top representatives from Chevron, ExxonMobil, ConocoPhillips, Halliburton, Shell, Valero, Marathon, Trafigura, Vitol Americas, and Repsol.
Trump highlighted how foreign companies faced risks and lacked protection under Maduro’s leadership, but stressed that era had ended. “Now you have total security,” he assured the group. “It’s a whole different Venezuela.” He emphasized that oil firms should “deal with us directly,” signaling Washington’s plan to act as the key decision-maker over Venezuela’s oil assets, effectively bypassing the resource-rich yet financially strained country in its own resource development.
Oil Executives’ Cool Response
Accounts indicate the executives greeted Trump’s overture with doubt. AFP reported that ExxonMobil CEO Darren Woods directly challenged the idea. “We’ve had our assets seized there twice,” he noted. “And so, you can imagine, to re-enter a third time would require some pretty significant changes.”
He continued, “If we look at the legal and commercial constructs and frameworks in place today in Venezuela today, it’s uninvestable.”
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The gathering occurred just days after US forces seized Maduro, a move Trump has tied explicitly to securing influence over Venezuela’s oil.