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Talks have begun between the Trump administration and major American oil companies regarding new investment opportunities in Venezuela, following the dramatic capture of President Nicolas Maduro by U.S. forces last weekend, a senior White House official stated.
Preliminary discussions are already underway and are expected to continue in the coming weeks over potential energy investments and operational partnerships in Venezuela’s oil sector, the official told Turkish state-run Anadolu Agency.
While specific companies were not named, Secretary of State Marco Rubio and Energy Secretary Chris Wright will reportedly lead the U.S. delegation in the negotiations, the source said.
Following the U.S. operation in Venezuela that led to the capture of President Nicolas Maduro, the Trump administration expressed its intention to allow American energy companies to engage in the country’s oil sector, claiming that U.S. firms could help restore Venezuela’s oil infrastructure through future investments.
In his address on Saturday, Trump emphasized plans for U.S. companies to rebuild Venezuela’s energy infrastructure.
'We’re going to have our very large United States oil companies, the biggest anywhere in the world, go in, spend billions of dollars, and fix the badly broken infrastructure, the oil infrastructure,' he stated.
"President Trump has said he looks forward to working with America’s oil companies on new investments and opportunities in Venezuela," said White House spokesperson Karoline Leavitt in a recent press conference.
Investors welcomed the remarks on Wall Street, with shares of oil companies surging in Monday’s premarket trade, with Chevron up nearly 9%, Exxon 5%, SLB 12%, and ConocoPhillips 9% at their intraday highs.
Despite holding the world’s largest proven oil reserves, estimated at 303 billion barrels, Venezuela’s production has remained low due to prolonged underinvestment linked to years of U.S. sanctions. As of November, output hovered around 934,000 barrels per day, accounting for less than 1% of global demand.
The revitalization of Venezuela’s oil industry is expected to raise output above one million barrels per day in the short term.
While this increase is unlikely to shift global oil supply dynamics, it could ease fuel shortages domestically and support fiscal recovery efforts.
Several international companies continue operations in Venezuela’s onshore and offshore oil fields, including Chevron (United States), TotalEnergies (France), Rosneft (Russia), Repsol (Spain), Eni (Italy), China National Petroleum Corporation (China), Sinopec (China), Belorusneft (Belarus), and ONGC Videsh Limited (India).
However, state-owned Petroleos de Venezuela S.A. (PDVSA) retains a dominant market position, according to data from energy research group MordorIntelligence.
If sanctions are further eased and investment resumes, Venezuela is evaluated as likely to gradually reenter global markets as a marginal oil supplier, offering a possible new frontier for U.S.-based energy firms.
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