Trump Urges Oil Giants to Re-enter Venezuela with $100 Billion Investment, Promises 'Total Safety'

World
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Moneycontrol•10-01-2026, 03:31
Trump Urges Oil Giants to Re-enter Venezuela with $100 Billion Investment, Promises 'Total Safety'
- •President Trump called on oil executives from Chevron, ExxonMobil, and ConocoPhillips to invest $100 billion in Venezuela's oil sector.
- •Trump assured companies of 'total safety' and government protection, stating they would deal directly with the US, not Venezuela.
- •The move follows the US military raid to capture Nicolás Maduro and aims to revive Venezuela's oil production and lower US gasoline prices.
- •US forces have seized five tankers linked to Venezuelan oil, signaling US control over the country's petroleum exports.
- •Oil executives, including ExxonMobil CEO Darren Woods, expressed concerns about Venezuela's current 'un-investable' commercial frameworks and legal system.
Why It Matters: Trump pushes US oil companies to invest $100 billion in Venezuela, promising protection and control over its oil.
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