Trump seeks Venezuela investments in White House meeting with oil executives

President Trump is meeting oil executives at the White House to seek about US$100 billion in investments to revive Venezuela's oil sector, and the administration reported seizing three Venezuelan tankers and said it will oversee sales of previously sanctioned oil.

President Donald Trump is meeting with oil industry executives at the White House to seek roughly US$100 billion in investments aimed at reviving Venezuela's oil sector. The meeting is scheduled behind closed doors for 2:30 p.m. ET. The administration has reported seizing three Venezuelan tankers and said it will oversee sales of previously sanctioned Venezuelan oil. The effort is being presented by the administration as part of a broader push to keep gasoline prices low for American consumers. Key points: - The meeting is set for 2:30 p.m. ET and is closed to the public. - The article reports Trump saying at least US$100 billion will be invested by major oil companies. - The administration reported seizing three Venezuelan tankers and said it will control sales of 30 million to 50 million barrels of previously sanctioned oil. - The article mentions Chevron, ExxonMobil and ConocoPhillips as among companies attending, though large firms have largely refrained from confirming investments. - Venezuela's oil production has fallen below one million barrels per day. Summary: The administration is pursuing a plan framed as reviving Venezuelan oil output and helping to lower gasoline prices, while seeking private investment and assurances for companies. Whether major oil firms make concrete commitments or secure the required contracts and guarantees is undetermined at this time.