Major U.S. oil firms are poised to pour billions into Venezuela, as revealed in a Trump-hosted White House huddle. Chevron, ExxonMobil, ConocoPhillips, and Halliburton execs outlined swift re-entry plans, hinging on guaranteed safety and White House support.
Decimated by sanctions and neglect, Venezuela’s oil output has nosedived from peak levels. Infrastructure woes persist, but leaders envision a robust recovery with proper incentives.
‘With 3,000 on-site staff, we’ve boosted production to 240,000 bpd from 40,000. Immediate full utilization, plus growth in 18-24 months,’ Chevron VP Mark Nelson boasted. ExxonMobil CEO Darren Woods: ‘Reserves aplenty, but laws must align. Experts deployable fast.’
ConocoPhillips’ Ryan Lance spotlighted Trump’s pragmatic pivot from confrontation to collaboration, rekindling national spirits. Halliburton CEO Jeff Miller: Forced out in 2019, now ‘excited to return our 600 Venezuelan talents home.’
The President committed to investor safeguards. All agreed: political steadiness will accelerate capital influx. Once a top producer, Venezuela stands at revival’s threshold.