Trump wants oil giants to invest billions in Venezuela, experts skeptical

(Patria) - US President Donald Trump has called on oil companies to invest at least $100 billion in Venezuela, but the proposal has met with restraint from leading energy companies, the BBC reports.

Directors of oil giants have warned that Venezuela is currently "uninvestable" due to political instability, sanctions, and previous asset seizures. Exxon CEO Darren Woods recalled that the company's assets in Venezuela have already been seized twice, stressing that without major changes, there is no return.

Trump stated that the US will control who can do business with Venezuela, with selective lifting of sanctions and oversight of oil sales. The goal, he said, is to increase supply and lower energy prices.

Although some companies like Chevron, Repsol, and smaller independent firms see an opportunity, analysts are skeptical. They warn that without legal certainty and a stable political situation, large investments are not realistic, and that Trump's figure of $100 billion is unlikely in the foreseeable future.