Summary
President Trump plans to meet with U.S. oil company leaders to discuss boosting oil production in Venezuela. Significant investment is needed to improve Venezuela's oil infrastructure, but companies have concerns about legal, security, and economic conditions. The meeting will include major oil companies like Chevron, Exxon, and ConocoPhillips.
Key Facts
- President Trump will meet with U.S. oil company leaders at the White House to discuss Venezuela's oil production.
- Venezuela has large oil reserves but low production due to underinvestment and other challenges.
- Chevron is the only U.S. company currently operating in Venezuela under a special license.
- Companies are cautious about investing due to legal, security, and economic uncertainties.
- Major oil companies like Chevron, Exxon, and ConocoPhillips will be part of the meeting.
- Venezuela's current oil production is below one million barrels per day.
- Continental Resources is one company expressing interest in investing in Venezuela if conditions improve.
