Trump Urges Oil Giants to Invest $100 Billion in Venezuela After Maduro's Ouster

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CNBC TV18•10-01-2026, 10:31
Trump Urges Oil Giants to Invest $100 Billion in Venezuela After Maduro's Ouster
- •Donald Trump met with oil executives, pushing for $100 billion in investments to revive Venezuela's petroleum sector.
- •The US seized Venezuelan oil tankers and plans to control sales of 30-50 million barrels of previously sanctioned oil.
- •Trump assured executives of "total safety" for investments, stating they would deal directly with the US, not Venezuela.
- •Companies like Chevron, ExxonMobil, and ConocoPhillips were invited, with ExxonMobil's CEO highlighting the need for significant changes to Venezuela's commercial and legal frameworks.
- •The move is part of Trump's strategy to lower gasoline prices and involves exploring the restoration of diplomatic relations with Venezuela.
Why It Matters: Trump pushes US oil companies for massive investment in Venezuela, aiming to control its oil and lower gas prices.
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