U.S. push for Venezuelan oil investment meets industry caution

White House optimism that U.S. oil companies could quickly resume operations in Venezuela has not produced an immediate industry rush; Chevron is widely seen as a prime beneficiary of any reopening but reportedly isn’t in a hurry to expand there yet. Administration officials, including Energy Secretary Chris Wright, have been urging U.S.

fossil-fuel firms to return, and President Trump told NBC News expanded U.S. operations could be "up and running" in 18 months or less while suggesting "they’ll get reimbursed by us or through revenue," a statement the Times described as unclear. Chevron is the only major U.S. company that stayed in Venezuela after nationalizations and secured short-term exemptions from sanctions, and oil-field services firms such as Halliburton and SLB saw their stocks jump; but reports say Chevron and other majors like Exxon Mobil and ConocoPhillips appear in no hurry to boost investment, though Chevron has contingencies for some scenarios.

The situation remains unsettled: Nicolás Maduro pleaded not guilty to U.S. charges in Manhattan federal court, arguing he is a prisoner of war, and an emergency U.N. Security Council meeting drew criticism of the U.S. operation. Industry caution reflects uncertainty over the political situation in Caracas — some executives voiced confidence in interim leader Delcy Rodríguez, but volatility has led others to question whether companies could reliably place personnel in Venezuela or repatriate funds.

Key Topics

Business, Chevron, Venezuela, Donald Trump, Chris Wright, Halliburton