- January 7, 2026
- Posted by: EWGFX
- Category: news
Trump touts large US oil investments in Venezuela’s industry, but firms remain cautious amid low prices and instability.
Since the abduction of Venezuelan President Nicolas Maduro by US special forces, President Donald Trump has promised US investment in the country’s underproductive oil fields.
“We’re going to have our very large United States oil companies, the biggest anywhere in the world, go in, spend billions of dollars, fix the badly broken infrastructure, the oil infrastructure, and start making money for the country,” Trump said in a Mar-a-Lago news conference on January 3.
He reiterated this on January 4 to reporters on Air Force One, saying, “We’re going to have big investments by the oil companies to bring back the infrastructure. The oil companies are ready to go.”
When reporters sought concrete details about the investments, Trump declined to offer them. Speaking on ABC’s This Week on January 4, Secretary of State Marco Rubio echoed Trump, saying he expects “dramatic interest from Western companies”, without offering specifics.
When contacted for comment, the White House told PolitiFact that the administration has had conversations with multiple oil companies, without naming any of them.
“All of our oil companies are ready and willing to make big investments in Venezuela that will rebuild their oil infrastructure,” White House spokesperson Taylor Rogers said.
The American Petroleum Institute, the oil industry’s leading trade association in the US, said in a statement to PolitiFact that the group is “closely watching” the developments.