> At a Glance
> – President Trump claims US oil firms could revive Venezuela’s fields within 18 months
> – Companies would front “tremendous” costs, later repaid by US or oil revenue
> – Maduro and his wife were detained in a Saturday raid; US eyes oil oversight
> – Why it matters: Chevron’s waiver-hinged presence and Exxon’s double-expropriation history show the stakes for investors and pump prices.
President Trump says American oil companies could bring Venezuela’s battered energy sector back online in under 18 months-if they’re willing to risk billions up front and trust Washington to foot the bill later.
The 18-Month Pledge
Trump told NBC News the timeline is feasible:
> “I think we can do it in less time than that, but it’ll be a lot of money.”
He expects firms to finance repairs first, then recover costs either through direct US reimbursement or future crude revenue. He would not name a dollar figure, calling it “a very substantial amount.”
Key points:
- Companies spend first, recoup later
- Price tag undisclosed but “tremendous”
- Trump claims both firms and Venezuela “will do well”
Industry Caution Runs Deep
Despite Trump’s optimism, major players remain wary:
- Exxon exited after two expropriations; CEO Darren Woods recently said economics must be proved
- ConocoPhillips declined comment Monday
- Chevron stays only under a limited sanctions waiver and refuses to “speculate on future investments”
Historic asset seizures, current sanctions, and fresh political turmoil feed the hesitation.
| Company | Status in Venezuela | Public Stance |
|---|---|---|
| Chevron | Active (waiver) | No comment on new investment |
| Exxon Mobil | Exited 2007 | Must “see what economics look like” |
| ConocoPhillips | Exited 2007 | Declined comment |
What Happens Next
Energy Secretary Chris Wright will meet Exxon and Conoco executives this week to outline White House plans for rebuilding Venezuelan infrastructure. Trump said firms were aware Washington was “thinking about doing something” but received no advance notice of Saturday’s military action that led to Maduro’s arrest.
Trump argues renewed Venezuelan output will:
- Push global oil prices lower
- Keep US retail gas-now $2.81, lowest since March 2021-under pressure
Yet cheaper crude also trims the revenue companies need to justify multibillion-dollar bets.
Key Takeaways
- Trump sets 18-month target for US oil revival in Venezuela
- Up-front costs borne by companies, repaid later by US or oil proceeds
- Chevon remains alone among big three; Exxon and Conoco demand secure terms
- Administration touts lower pump prices; firms weigh profit vs. risk
- Wright-led meetings this week could shape next steps
Whether Washington’s promise of repayment outweighs decades of seized assets will decide if US oil giants return to Caracas.
