Fri Jan 09 23:55:55 UTC 2026: ### US Seeks $100 Billion Oil Investment in Venezuela Amidst Skepticism

The Story:

President Donald Trump convened a meeting with oil executives at the White House, urging them to invest in Venezuela’s oil sector to revive its petroleum production. The administration is aiming to secure $100 billion in investments despite ongoing US sanctions, political uncertainty, and historical asset seizures in the South American nation. Trump assured the executives of “total safety” by dealing directly with the US government, promising government protection for their investments. This move follows the US seizure of multiple tankers linked to Venezuelan oil, signaling a proactive approach to controlling Venezuela’s oil resources.

Key Points:

  • President Trump seeks $100 billion in oil investments in Venezuela.
  • Trump assures oil executives of “total safety” and government protection.
  • The US has seized multiple tankers linked to Venezuelan oil.
  • Oil executives expressed hesitation, citing concerns over political instability, legal framework, and investment protections.
  • Companies like ExxonMobil and ConocoPhillips, which previously had assets nationalized, are wary of re-entering the Venezuelan market.
  • The US and Venezuela are exploring the possibility of restoring diplomatic relations.
  • Venezuela’s oil production has slumped below one million barrels per day (bpd).
  • The US government has not specified how revenue from Venezuelan oil sales will be shared.

Critical Analysis:

The historical context provides a scattered view of Trump’s actions. The urgency to acquire Greenland and accusations of trampling over local autonomy to please President Trump in Iran suggest a pattern of aggressive foreign policy and disregard for international norms. While the relevance to the current situation is not direct, the fact that ExxonMobil CEO, Darren Woods cited the seizing of assets twice already, and the fact that they were lost as part of a 2007 nationalisation of private businesses under former President Hugo Chavez, signals some wariness on behalf of big oil.

Key Takeaways:

  • The US government is attempting to leverage private sector investment to control Venezuelan oil resources.
  • Oil companies are wary of investing in Venezuela due to political instability and legal risks.
  • The US’s actions are aimed at reshaping the Venezuelan oil industry and potentially influencing its political landscape.
  • The lack of clarity on revenue sharing raises concerns about the potential for exacerbating Venezuela’s economic crisis.
  • The administration’s approach is viewed by some as “violent imperialism”.

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