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Trump Calls Off Second Venezuela Strike, Courts Oil Giants With $100 Billion Investment Pitch

Oil chiefs voiced caution, with Exxon’s CEO calling Venezuela “uninvestable.”

Overview

  • Trump said he canceled a planned second wave of attacks after Venezuela began releasing political prisoners, while ordering U.S. naval ships to remain in place for security.
  • He met with executives from ExxonMobil, Chevron, ConocoPhillips and others at the White House, saying the U.S. would decide which firms operate in Venezuela and promising companies “total safety.”
  • Executives expressed skepticism about large commitments, with Exxon’s Darren Woods citing past asset seizures and labeling the country uninvestable, as Chevron signaled continued interest under its existing license.
  • The administration touted plans to market up to 50 million barrels of Venezuelan crude, reported additional tanker seizures, and Trump said roughly $4 billion worth of oil is already headed to the U.S.
  • The Senate advanced a bipartisan war-powers measure seeking to curb further strikes without congressional approval, adding domestic pressure on the administration’s Venezuela strategy.