US President Donald Trump has threatened to take over Cuba, Panama, and Greenland. File image/Reuters
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Firstpost06-01-2026, 13:11

Trump urged oil firms to 'get ready' for Venezuela before Maduro raid: Report

  • Weeks before the Maduro raid, President Trump told US oil executives to "get ready" for big changes in Venezuela.
  • Trump's plan involves US oil companies, especially Chevron, investing billions to revitalize Venezuela's struggling oil fields and infrastructure.
  • White House officials, including Karoline Leavitt, Chris Wright, and Marco Rubio, are leading efforts to engage oil firms for new investments.
  • Despite investor optimism (Chevron shares up 5%), companies like Chevron are cautious, citing safety, commercial uncertainties, and political stability.
  • Venezuela holds 300 billion barrels of oil, but output is low; US companies seek protective terms against political risks before committing billions.

Why It Matters: Trump's administration pushed US oil companies to prepare for Venezuela's oil sector revitalization amidst political shifts.

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