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

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Firstpost•06-01-2026, 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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