Venezuela's energy industry faces skepticism over $100 billion plan

At a White House meeting President Trump said U.S. oil companies would spend at least $100 billion to rebuild Venezuela's energy sector; several executives, including Exxon CEO Darren Woods, described Venezuela as effectively "uninvestable" given past asset seizures.

President Trump met with senior oil executives at the White House to outline a plan for rebuilding Venezuela's energy sector and to seek private investment. He said he expected U.S. oil companies to spend at least $100 billion and that the government could provide protection and security. The meeting followed reporting that U.S. military forces entered Venezuela and captured Nicolás Maduro, a development the article describes as context for the discussion. Executives at the meeting expressed caution and stopped short of committing large-scale investment. Key points: - The president said the plan envisions oil companies spending at least $100 billion while the U.S. would provide security. - Exxon Mobil CEO Darren Woods said Venezuela is "uninvestable" under current legal and commercial frameworks and noted the company had assets seized there twice. - Executives did not provide clear, immediate commitments; some discussed technical assessments or the need for major reforms. - The article reports recent U.S. military involvement in Venezuela and statements by the president that the U.S. would run the country and its oil industry for years. Summary: Oil industry leaders signaled caution about re-entering Venezuela, citing legal risks, past seizures of assets, and the need for reforms. The White House proposed large private investment with U.S. security guarantees, but the meeting produced no clear industry commitments. Undetermined at this time.