Washington, January 9, 2026 – The White House is set to host a pivotal meeting on Friday with leading U.S. and international oil companies to explore investment opportunities in Venezuela’s energy sector, aiming to revitalize crude production in the sanctions-burdened nation following recent political upheaval.
Broad Participation from Industry Leaders
The gathering includes a diverse array of producers, refiners, traders, and oilfield services firms with historical or potential ties to Venezuela. Key attendees comprise Chevron Corp, Exxon Mobil, ConocoPhillips, Continental Resources, Halliburton, Valero Energy Corp, Marathon Petroleum Corp, Shell, Repsol, Eni, and traders such as Trafigura and Vitol Americas.
Smaller players like HKN Inc., Aspect Holdings, Tallgrass Energy, Raisa Energy, and Hilcorp Energy are also invited. Senior Trump administration officials, including Secretary of State Marco Rubio, Energy Secretary Chris Wright, and Interior Secretary Doug Burgum, will join the discussions.
A White House official confirmed the focus on potential investments to boost output, amid efforts to redirect Venezuelan oil flows toward U.S. interests.
Context of Sanctions Relief and Production Revival
The meeting follows U.S. actions that removed former President Nicolas Maduro and announcements of deals to access up to 50 million barrels of Venezuelan crude.
While the article notes no explicit agenda on sanctions, the broader push involves selective rollback to facilitate American involvement. Industry sources indicate companies seek guarantees amid risks, with larger firms cautious while independents show eagerness.
This initiative aligns with President Trump’s vision for U.S. firms to rebuild Venezuela’s infrastructure and tap its vast reserves.