The oil industry has expressed serious skepticism about ponying up tens of billions of dollars over a decade to restore Venezuela’s oil infrastructure. But oil companies would be willing to reconsider under the right conditions: There’s serious money to be made from the country’s massive oil reserves. Guarantees from the Trump administration may last only as long as Trump is in power — and can maintain control over Venezuela’s government. That’s unlikely to comfort the oil industry that new Venezuelan and US governments don’t change the rules on them years down the line. Repeal of sanctions and oil lawsIn private prep sessions ahead of Friday, oil executives worried Trump will demand on-the-spot commitments.

Source: CNN January 09, 2026 13:33 UTC