WASHINGTON — President Donald Trump is set to host a high-stakes summit at the White House this Friday, January 9, 2026, welcoming the chief executives of the world’s largest energy firms to discuss a massive redevelopment of Venezuela’s oil sector. The meeting comes less than a week after U.S. forces captured Nicolás Maduro, a move the administration claims has cleared the way for “American energy dominance” to revitalize the South American nation’s crumbling infrastructure.
Executives from ExxonMobil, Chevron, ConocoPhillips, and Continental Resources—led by Trump ally Harold Hamm—are expected to attend. Also invited are leaders from major oilfield service providers, including Halliburton and Baker Hughes, who will be tasked with the physical reconstruction of derelict wells and refineries.
The “Oil for Reconstruction” Deal
During the meeting, the President is expected to formalize a plan where U.S. companies invest billions of dollars to repair Venezuela’s “badly broken” energy industry. In exchange, the administration has suggested that these firms will be “reimbursed through revenue” generated from the newly unlocked reserves.
“We’re going to have our very large United States oil companies go in, spend billions of dollars, fix the infrastructure, and start making money for the country,” Trump declared earlier this week. He has already announced that an interim Venezuelan authority will turn over between 30 million and 50 million barrels of “sanctioned oil” to the U.S. to be sold at market prices.
Industry Skepticism vs. Ambition
Despite the President’s optimism, industry insiders remain cautious. Analysts from Rystad Energy estimate that it would require $53 billion over the next 15 years just to maintain current production levels, and nearly $183 billion to return to the country’s 1990s-era peak of 3 million barrels per day.
Executives are reportedly seeking:
- Legal Protections: Guarantees that their investments will be protected regardless of future political shifts in Caracas or Washington.
- Sanctions Relief: Clear timelines for the “selective rollback” of sanctions recently hinted at by the Department of Energy.
- Debt Recovery: Assurances that new profits will first satisfy billions in outstanding claims from the 2007 nationalization of assets.
Geopolitical Ripples
The meeting occurs amid a firestorm of domestic and international reaction. On Thursday, the U.S. Senate advanced a war powers resolution in a 52-47 vote, reflecting bipartisan unease over the scale of the military intervention and the administration’s “fossil-fueled imperialism,” as critics at Oil Change International have termed it.
Energy Secretary Chris Wright has spent the week briefing stakeholders, insisting that the U.S. is ready to get Venezuelan crude “moving again” to stabilize global markets. As the Friday summit begins, the world is watching to see if the “Trump Doctrine” can successfully turn a military victory into a long-term energy alliance.
Sources
- PBS News: Trump: U.S. to get 30 million to 50 million barrels of oil from Venezuela
- Holland & Knight: Venezuela: Navigating a New Era of Uncertainty
- The Guardian: Trump suggests US taxpayers could reimburse oil firms for Venezuela investment
- Washington Examiner: What oil companies need to fulfill Trump call to revitalize Venezuela’s industry
- Oil Change International: Response to Trump’s meeting with oil execs on Venezuela
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