In a significant move that reshapes the geopolitical landscape of global energy, US President Donald Trump has declared that his administration will directly decide which international oil corporations are permitted to operate in Venezuela. This announcement follows the recent military capture of the country's leader, Nicolas Maduro.
White House Meeting with Energy Giants
President Trump made these remarks during a high-stakes meeting at the White House with top executives from 17 major energy firms. The gathering was part of a concerted push to secure a staggering $100 billion in investments to revive Venezuela's crippled oil sector. "We're going to be making the decision as to which oil companies are going to go in, that we're going to allow to go in, going to cut a deal with the companies," Trump told the assembled leaders, as reported by the Associated Press.
He emphatically told the executives, "You're dealing with us directly, you're not dealing with Venezuela at all, we don't want you to deal with Venezuela." Trump contrasted the current situation with the past, asserting that foreign companies had no safety guarantees under Maduro's rule but now have "total security" in a "whole different Venezuela."
Seizing Control of Oil Assets
This investment drive comes on the heels of a series of aggressive actions by the United States to exert control over Venezuela's petroleum resources. The administration has framed Maduro's capture as a major economic opportunity. Key actions include:
- Seizing tankers carrying Venezuelan crude oil.
- Taking over global sales of an estimated 30 million to 50 million barrels of previously sanctioned oil.
- Planning to control these sales worldwide indefinitely.
In a recent escalation, US forces seized a fifth tanker in the past month linked to Venezuelan oil, underscoring Washington's intention to dominate the country's exporting, refining, and production capabilities. This signals a potential long-term US involvement in the sector.
Broader Strategy and Attending Companies
The strategy aligns with President Trump's wider goal of keeping gasoline prices low for American consumers. By influencing global energy markets through control of Venezuelan output, the administration aims to ease pressure on domestic fuel prices.
The high-profile meeting included a who's who of the global energy industry. Attendees featured companies with a complex history in Venezuela:
- Chevron, which maintains operations in the country.
- ExxonMobil and ConocoPhillips, which lost major projects during the 2007 nationalization under former President Hugo Chávez.
- Other participants like Halliburton, Shell, Valero, Marathon, and commodity traders Trafigura (Singapore), Eni (Italy), and Repsol (Spain).
Prior to the meeting, President Trump set the tone with a pre-dawn social media post, stating, "At least 100 Billion Dollars will be invested by BIG OIL, all of whom I will be meeting with today at The White House." This bold declaration marks a new chapter in US foreign policy, directly tying military action to economic gain and energy security.
