Finance

Factbox-White House gathers oil majors, traders, drillers on Venezuela

Published by Global Banking & Finance Review

Posted on January 9, 2026

1 min read

· Last updated: January 20, 2026

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Factbox-White House gathers oil majors, traders, drillers on Venezuela
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By Jarrett Renshaw Jan 9 (Reuters) - The White House is convening a meeting on Friday with major U.S. and international oil companies to discuss potential investment in Venezuela’s energy sector, as

White House Hosts Meeting with Oil Giants to Discuss Venezuela Investment

Overview of the Meeting

By Jarrett Renshaw

Attending Companies

Jan 9 (Reuters) - The White House is convening a meeting on Friday with major U.S. and international oil companies to discuss potential investment in Venezuela’s energy sector, as the administration weighs ways to revive crude output in the sanctions-hit country, according to a White House official.

Key Government Officials

The companies include producers, refiners, traders and oilfield services firms with past or potential exposure to Venezuela. Also attending are Secretary of State Marco Rubio, Energy Secretary Chris Wright and Interior Secretary Doug Burgum, the White House official said.

Potential Impacts on Venezuela's Economy

Here is a list of companies expected to attend, according to a White House official.

- Chevron Corp

- Exxon Mobil

- ConocoPhillips

- Continental Resources

- Halliburton

- HKN Inc.

- Valero Energy Corp

- Marathon Petroleum Corp

- Shell

- Trafigura

- Vitol Americas

- Repsol

- Eni

- Aspect Holdings

- Tallgrass Energy

- Raisa Energy

- Hilcorp Energy

(Reporting by Jarrett Renshaw; Editing by Nia Williams)

Key Takeaways

  • White House convenes meeting with oil companies on Venezuela.
  • Discussion focuses on potential investment in Venezuela's energy sector.
  • Key US government officials and major oil companies attend.
  • Aim to revive crude output in sanctions-hit Venezuela.
  • Meeting includes producers, refiners, and traders.

Frequently Asked Questions

What is investment?
Investment refers to the allocation of resources, usually money, in order to generate income or profit. It can involve purchasing assets like stocks, bonds, or real estate.
What is the energy sector?
The energy sector encompasses the production and distribution of energy, including oil, gas, and renewable sources. It plays a crucial role in the global economy and energy supply.
What are oil majors?
Oil majors are large multinational companies involved in the exploration, extraction, refining, and distribution of oil and gas. Examples include Chevron, ExxonMobil, and Shell.
What is crude oil?
Crude oil is a natural, unrefined petroleum product composed of hydrocarbon deposits and other organic materials. It is a primary source of energy and raw material for various products.
What are sanctions?
Sanctions are restrictive measures imposed by countries or international organizations to influence or punish nations, groups, or individuals. They can include trade restrictions, financial penalties, or diplomatic isolation.

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