US Oil Firms Seek Assurances to Invest in Venezuela: FT

• Trump is scheduled to meet with heads of major oil companies at the White House on Friday to discuss raising Venezuela's oil production
• Energy executives are expected to press the president for strong legal and financial protections before agreeing to commit capital to Venezuelan operations
• Chevron is in talks with the U.S. government to expand its existing license to operate in Venezuela

Summary: US Oil Firms Seek Assurances to Invest in Venezuela

U.S. oil companies are demanding "serious guarantees" from the Trump administration before committing significant capital to Venezuela, as President Trump pushes to reshape global energy markets through increased Venezuelan oil production.

Key Developments:

U.S. officials met with top energy executives in Miami on Wednesday, ahead of a scheduled White House meeting on Friday where Trump will discuss strategies to boost Venezuela's oil output with major oil company heads. The executives plan to press the president for strong legal and financial protections before agreeing to invest.

Company Activity:

Chevron is currently in negotiations with the U.S. government to expand its operational license in Venezuela, signaling potential near-term activity in the country.

Market Context:

The push comes as the Trump administration seeks to increase global oil supply and reshape energy markets. However, oil companies remain cautious about Venezuelan exposure due to the country's history of political instability, operational challenges, and potential legal risks associated with investments in the sanctions-affected nation.

Implications:

The outcome of these negotiations could significantly impact:

• Global oil supply dynamics and pricing
• U.S.-Venezuela diplomatic relations
• Major oil companies' production strategies
• Energy market competition, particularly affecting other producers

The demand for guarantees suggests companies view Venezuelan investments as high-risk, requiring government backing to protect against potential asset seizures, contract violations, or future sanctions. The Friday White House meeting will be critical in determining whether U.S. oil majors commit to Venezuelan operations or maintain their cautious stance.