• Trump pushes for $100 billion investment in Venezuela's oil industry to revitalize production.
• Major oil executives express skepticism over the viability of investing in Venezuela under current conditions.
• Trump asserts that the US will control which companies can operate in Venezuela post-Maduro's capture.
• Concerns persist regarding political stability and the legal environment for investments in Venezuela.
• Chevron remains the only major US oil company currently operating in Venezuela.

U.S. President Donald Trump held a crucial meeting with senior oil executives on January 9, aiming to secure substantial investments aimed at reviving Venezuela’s extensive oil sector, which has been crippled by years of political instability and economic decline. Trump proposed an ambitious target of “at least $100 billion” in investments, but his appeal was met with considerable skepticism from industry leaders, who labeled Venezuela as “uninvestable” without significant reforms to its political and economic landscape, according to Reuters and Los Angeles Times.

During the meeting, Trump emphasized that the U.S. administration, rather than the Venezuelan government, would oversee which companies would be permitted to invest, claiming, “You’re dealing with us directly, not Venezuela at all.” He promised “total safety” and “total security” for those willing to invest, contrasting this with the instability that characterized previous interactions with the Maduro regime, according to India Times and Channel News Asia.

Despite Trump's optimistic assertions regarding the security situation in Venezuela, ExxonMobil's CEO Darren Woods voiced hesitation, emphasizing that any return to the market would require fundamental changes in the legal and commercial framework currently in effect. He stated, "If we look at the legal and commercial constructs and frameworks in place today in Venezuela—today, it’s uninvestable," as reported by BBC and Al Jazeera.

The meeting also showcased the divided sentiments among different oil firms regarding potential investments in Venezuela, with some executives reportedly more open to discussions than others. Trump’s strategy appears to pivot on securing a significant presence in the Venezuelan oil market, which, according to OPEC, has seen production plummet to about one percent of global output due to underinvestment and extensive sanctions, as detailed by India Times and Le Monde.

As Trump's administration seeks to tighten its grip on Venezuelan oil, the interim President Delcy Rodríguez has maintained that her government remains in control. While Chevron is currently the only American firm licensed to operate in Venezuela, companies like ExxonMobil and ConocoPhillips still seek to recover significant sums owed to them from past nationalizations, underscoring the complex landscape for future investments and operational stability, according to sources like India Times and Channel News Asia.