Overview
- At a White House session Friday, President Trump urged nearly 20 oil executives to commit to reviving Venezuela’s industry.
- Exxon Mobil CEO Darren Woods labeled Venezuela “uninvestable,” underscoring reluctance among global majors to invest.
- The administration pitched investment of at least $100 billion to rebuild the sector, according to the Australian Financial Review.
- Treasury Secretary Scott Bessent said smaller oil, mining and finance firms are seeking entry and contacting the White House.
- Reporting describes top producers as playing it safe due to low prices and costly risks, with some insiders deriding the push.