U.S. Plans Big Oil Revival in Venezuela Amid Political Unrest

The Trump administration plans to meet with top U.S. oil companies to discuss boosting Venezuelan oil production following the ousting of Nicolas Maduro. The meeting aims to revitalize Venezuela's oil sector, requiring significant investment, despite existing political and infrastructural challenges.

The administration of President Donald Trump is set to engage with major U.S. oil companies this week to discuss strategies for revitalizing Venezuela's oil production. This move follows the recent removal of Venezuelan leader Nicolas Maduro by U.S. forces, highlighting the administration's focus on strengthening energy ties with the South American country.

Sources indicate that no discussions have yet occurred between the top oil companies—Exxon Mobil, ConocoPhillips, and Chevron—and the White House regarding operations in Venezuela post-Maduro's capture. Despite President Trump's assertions about ongoing communications, it appears the industry executives remain out of the loop.

The upcoming talks are pivotal for the administration's hopes to increase crude oil exports from Venezuela, which boasts the world's largest reserves. Achieving this will require years of effort and billions in investments, as the country navigates the challenges of its political future and infrastructural deficiencies. The White House believes U.S. firms are primed for investments pending strategic alignment.

(With inputs from agencies.)