At a White House meeting, oil executives told President Trump that Venezuela needs major reforms and security guarantees to attract investment. ExxonMobil and ConocoPhillips, owed billions from past asset seizures, are hesitant to re-enter the “uninvestable” market despite Trump’s $100 billion reconstruction promise. While Trump dismissed compensation for past losses, Chevron aims to rapidly increase production. Treasury Secretary Bessent noted that smaller, independent oil companies are more eager to invest than the hesitant majors.
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What the Big Oil executives told Trump about investing in Venezuela
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