“You are going to see Exxon and Conoco and dozens of other American firms looking to see how they can be involved,” Wright said Thursday on Fox Business.
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Moneycontrol09-01-2026, 03:24

Trump Convenes US Oil Giants for Venezuela Rebuild Talks

  • Nearly 20 US oil executives, including Harold Hamm, to meet Trump at White House.
  • Discussion focuses on rebuilding Venezuela's battered energy sector, which has world's largest oil reserves.
  • Companies like Chevron Corp., Exxon Mobil Corp., ConocoPhillips, Vitol Group, Trafigura Group, Repsol SA, and India’s Reliance invited.
  • Rebuilding could cost $100 billion over a decade; companies wary without security guarantees.
  • Administration's plan to sell Venezuelan crude from storage already impacting markets.

Why It Matters: Trump pushes US oil firms to revive Venezuela's energy, facing high costs and security concerns.

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