US President Donald Trump (2L) speaks during a meeting with US oil company executives in the East Room of the White House in Washington, DC on January 9, 2026. AFP
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Firstpost10-01-2026, 11:54

Trump Vows 'Total Safety' to Lure Oil Giants for $100 Billion Venezuela Investment

  • US President Donald Trump promised "total safety and security" to oil giants for a $100 billion investment in Venezuela.
  • The meeting at the White House included executives from Chevron, ExxonMobil, and ConocoPhillips, days after US forces took control of Venezuela's oil reserves and arrested Nicolas Maduro.
  • Trump emphasized that Maduro's arrest offers an unprecedented opportunity for oil extraction, benefiting the US with lower energy prices.
  • The investment will come from private oil companies, not the US federal government, with Trump offering government protection.
  • While some executives expressed support, ExxonMobil's CEO Darren Woods stated Venezuela is currently "uninvestable" but expressed confidence in the Trump administration to facilitate necessary changes.

Why It Matters: Trump seeks $100 billion private oil investment in Venezuela, promising security after Maduro's ouster.

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