The Trump administration is set to meet with U.S. oil company executives later this week to discuss the potential increase of Venezuelan oil production after the ousting of President Nicolas Maduro.
The meetings aim to facilitate the return of major U.S. oil companies, including Exxon Mobil, ConocoPhillips, and Chevron, to the country, following the nationalization of U.S.-led energy operations nearly two decades ago. Despite Trump’s claims of prior talks, oil executives have denied having any discussions regarding operations in Venezuela.
The administration hopes to invest in Venezuela’s oil infrastructure, which has been severely impacted by sanctions and underinvestment. However, analysts warn that rebuilding the industry will take years and require significant financial commitments.
