U.S. Oil Firms Seek Strong Guarantees for Venezuelan Investments

U.S. oil companies are demanding comprehensive guarantees from Washington before making investments in Venezuela. President Trump is pushing for these investments to reshape energy markets. Discussions in Miami involve U.S. officials and energy executives, as Trump prepares to meet with major oil company heads at the White House.

U.S. oil companies are pushing for significant guarantees from Washington before committing to large-scale investments in Venezuela, as per a report by the Financial Times on Wednesday.

The report indicates that U.S. officials have been engaging with leading energy executives in Miami, amidst ongoing negotiations between Washington and Caracas to supply up to 50 million barrels of Venezuelan oil to the U.S. This move aligns with President Trump's efforts to reshape global energy markets and increase investment in Venezuela's energy sector.

President Trump plans to host a meeting at the White House with top oil industry leaders, including representatives from Exxon Mobil, ConocoPhillips, and Chevron, to discuss strategies for boosting Venezuela's oil production. Executive leaders are expected to seek assurances on legal and financial fronts before committing capital investment in Venezuela.

(With inputs from agencies.)