In a bold move to unlock Venezuela's vast petroleum reserves, US President Donald Trump has personally courted the chief executives of the world's largest oil companies, seeking a monumental $100 billion in private investment. The high-stakes meeting at the White House on Friday, January 9, 2026, coincided with US forces seizing another oil tanker in the Caribbean Sea, underscoring the administration's aggressive posture towards Caracas.
The $100 Billion Pitch: "Total Safety" Promised
Facing executives from industry titans including ExxonMobil, Chevron, ConocoPhillips, Halliburton, Valero, Marathon, and Shell, President Trump made a direct appeal. He assured them of "total security" for their capital, despite Venezuela's notorious history of state asset seizures, ongoing US sanctions, and deep political instability.
"You’re dealing with us directly and not dealing with Venezuela at all. We don’t want you to deal with Venezuela," Trump told the gathering, as reported by the Associated Press. He emphasised that the $100 billion would come from the companies' own funds, not government coffers, but stressed they required government protection to proceed.
The promise of security, according to Trump, would stem from collaboration with Venezuelan leaders and their people, rather than a deployment of US military forces. Acknowledging the executives' experience, he remarked, "These are people that drill oil in some pretty rough places. I can say a couple of those places make Venezuela look like a picnic."
Executive Hesitation and Past Seizures
Despite the assurances, the oil bosses expressed significant reservations. Darren Woods, CEO of ExxonMobil—the largest US oil company—stated bluntly, "If we look at the commercial constructs and frameworks in place today in Venezuela, today it’s un-investable." His company has had assets seized twice before in the country. Woods confirmed ExxonMobil would send a team to assess the situation, but the shadow of past losses loomed large.
The meeting followed a dramatic shift in the political landscape. Just days earlier, on Saturday, January 3, Venezuelan President Nicolás Maduro and his wife, Cilia Flores, were captured by an elite US military squadron. Maduro, who has led Venezuela for 12 years and faces US indictments on drug and terrorism charges, has long been labelled a dictator by Washington.
Parallel Crackdown: Fifth Tanker Seized in Caribbean
As executives deliberated in Washington, US border forces were taking action at sea. On the same Friday, they boarded and seized an oil tanker in the Caribbean. This marked the fifth such interception in a month, part of a Trump administration crackdown on the global illicit oil trade.
Homeland Security Secretary Kristi Noem declared on social media that the vessel was "another 'ghost fleet' tanker ship suspected of carrying embargoed oil" that had departed Venezuela and attempted "to evade U.S. forces." These seizures directly target the Maduro regime's remaining oil revenue streams.
The context for Trump's push is Venezuela's crippled energy sector. Once a production powerhouse, its output has now slumped to below one million barrels per day. US Energy Secretary Chris Wright indicated after the meeting that it could take eight to 12 years for Venezuelan production to rebound to three million barrels daily, highlighting the scale of the challenge and investment required.
The dual strategy of enticing private investment while enforcing a maritime blockade places the US oil industry at the centre of a high-risk geopolitical and commercial gambit, with billions of dollars and the future of Venezuela's economy hanging in the balance.
