Trump Pushes U.S. Oil Giants to Invest $100 Billion in Venezuela’s ‘Rotting’ Energy Sector
By: Juba Global News Network | JubaGlobal.com
January 10, 2026
Just days after a dramatic U.S. military operation captured and removed Venezuelan President Nicolás Maduro, President Donald Trump convened top executives from Exxon Mobil, Chevron, ConocoPhillips, and other major oil companies at the White House on January 9, 2026, urging them to commit at least $100 billion to rebuild Venezuela’s dilapidated oil infrastructure. Trump framed the push as a win-win: reviving the world’s largest proven oil reserves to lower global energy prices, create American jobs, and generate revenue for both the U.S. and a post-Maduro Venezuela — all while promising companies “total safety” and “total security” under U.S. oversight.
The meeting, held in the East Room and partially live-streamed, highlighted the administration’s rapid pivot from regime change to economic exploitation of Venezuela’s vast resources. Trump declared: “American companies will have the opportunity to rebuild Venezuela’s rotting energy infrastructure and eventually increase oil production to levels never, ever seen before.” He emphasized that the investment would come from private oil giants, not taxpayer funds, predicting lower gas prices, reduced taxes, and significant returns for investors.
Here are images capturing the stark reality of Venezuela’s decaying oil infrastructure — rusty pumps, abandoned facilities, and environmental damage in the Orinoco Belt that have contributed to production plummeting from over 3 million barrels per day in the early 2000s to far lower levels today:
These visuals underscore the massive scale of repair work needed — pipelines corroded, refineries in disrepair, and fields neglected amid years of mismanagement, sanctions, and nationalizations.
The White House Meeting: Praise, Caution, and Skepticism
Flanked by Vice President JD Vance, Secretary of State Marco Rubio, and Energy Secretary Chris Wright, Trump greeted executives from Exxon, Chevron (the only major U.S. firm still operating in Venezuela), ConocoPhillips, and others. Chevron Vice Chairman Mark Nelson expressed optimism, noting the company’s 3,000 employees across joint ventures and potential to double output “effective immediately” with improved conditions.
However, the response was far from unanimous. Exxon CEO Darren Woods delivered the bluntest assessment, calling Venezuela “uninvestable” under current conditions. He stressed the need for “significant changes” to legal frameworks, durable investment protections, and resolution of past asset seizures — Exxon and ConocoPhillips lost billions when Hugo Chávez nationalized projects in the mid-2000s. Conoco CEO Ryan Lance tersely noted past losses had already been written off, while Trump joked about the “good write-off.”
Trump dismissed calls for federal financial backstops, insisting the companies “know the risks” and would benefit from U.S.-provided security. He predicted production could surge rapidly, benefiting American refineries that process Venezuela’s heavy crude.
These photos show Trump and administration officials engaging with oil executives during the high-stakes White House session: 6 “LARGE” 7 “LARGE”
Fallout from Maduro’s Capture and Ongoing U.S. Control
The push follows the January 3, 2026, U.S. raid that seized Maduro (now facing narco-terrorism charges in New York) and installed an interim administration under Delcy Rodríguez. The U.S. has seized multiple Venezuelan oil tankers, declared indefinite control over crude sales, and positioned itself as the dominant force in Venezuela’s energy sector — sidelining Russia and China, which have significant stakes.
Trump has promised that revenue from oil exports (including up to 50 million barrels earmarked for the U.S.) will benefit Venezuelans while stabilizing the economy. Analysts note Venezuela’s 303 billion barrels of reserves represent about 17% of global totals, but reviving output requires billions in repairs amid political uncertainty.
Here are additional images of refinery fires, pollution, and explosions that highlight the environmental and safety hazards plaguing Venezuela’s sector: 1
Challenges Ahead: “Uninvestable” Risks and Long-Term Outlook
Experts warn that $100 billion is an estimate for full revival over a decade, not an immediate pledge. Political instability, corruption risks, and the need for new contracts deter major commitments. Chevron remains best positioned due to its ongoing presence, while Exxon and Conoco seek assurances against future expropriations.
Trump’s vision ties directly to broader goals: countering adversaries in Latin America, securing energy independence, and delivering economic wins. Yet skeptics question whether private capital will flow without stronger U.S. guarantees — or if this marks a new era of resource-driven interventionism.
As the situation evolves, with U.S. forces maintaining a presence and talks ongoing, Venezuela’s oil future hangs in the balance. Will Big Oil take the plunge, or will caution prevail?
Juba Global News Network will continue monitoring developments. For exclusive analysis, visuals, and updates on this unfolding geopolitical and energy story, visit JubaGlobal.com. Stay informed in these turbulent times.
