Trump to meet oil bosses to discuss reviving Venezuela's oil output

The White House is planning a meeting between President Trump, senior officials and energy executives to discuss enlisting Western firms to rebuild Venezuela's oil industry; timing is fluid and companies have raised political and security concerns.

President Trump is arranging a meeting with energy executives at the White House within the next week to discuss involving Western companies in rebuilding Venezuela's oil industry. Officials being discussed for the meeting include Energy Secretary Chris Wright, Interior Secretary Doug Burgum, and possibly Secretary of State Marco Rubio. The talks come just days after a US military operation that led to the capture of Venezuela's leader, Nicolás Maduro. Timing for the White House sit-down remains fluid and other related meetings are planned this week. Known details: - The meeting is expected within the next week, with possible dates of Thursday or Friday, though timing is not fixed. - Officials discussed as participants include President Trump, Energy Secretary Chris Wright, Interior Secretary Doug Burgum, and possibly Secretary of State Marco Rubio. - The article notes Exxon Mobil and ConocoPhillips previously operated in Venezuela but left after nationalizations, while Chevron currently operates there under a special US license. - Venezuela currently produces about 1 million barrels per day, and Rystad Energy analysts estimate sustaining current output would require about $53 billion in investment over the next 15 years. - Company representatives have raised concerns about political stability, safety of personnel and assets, and want guarantees or protections before committing large investments; potential incentives are under discussion. - Wright is separately expected to meet oil executives at the Goldman Sachs Energy, Clean Tech & Utilities Conference in Miami, and representatives from Spain's Repsol are also slated to meet with administration officials this week. Summary: The planned meetings are focused on whether and how Western energy firms might participate in rebuilding Venezuela's oil sector, and officials are discussing incentives and protections to address firm concerns. Companies remain cautious about political risk and the safety of assets and personnel, and the precise scope and timing of any agreements are undetermined at this time.