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The removal of Maduro and potential U.S. involvement could revamp Venezuela's struggling oil sector, making it easier for U.S. oil companies to do business in the country. Venezuela is believed to have around 300 billion barrels of oil reserves.
The CEOs ExxonMobil and ConocoPhillips told President Donald Trump that Venezuela will need big changes to attract investment. Exxon CEO Darren Woods said Venezuela is "uninvestable" in the country's current state.
President Donald Trump urged U.S. oil giants to invest $100 billion to revive Venezuela's oil industry after Maduro's removal, while also escalating rhetoric about taking action on Greenland to prevent China or Russia from gaining influence, even as energy executives voiced caution over political and legal risks.
Country is ‘uninvestable' today, president told, but CEOs signal they are ready to spend with support
President Donald Trump met Friday afternoon with more than a dozen oil companies at the White House to discuss plans for investment in Venezuela, less than a week after the U.S. ousted President Nicolas Maduro. Trump said oil companies will spend at least $100 billion to rebuild Venezuela's energy sector.
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CNBC's Brian Sullivan reports on President Trump's commentary about Venezuela's oil industry during his meeting with oil executives at the White House.
Interior Secretary Doug Burgum says US oil companies are very interested in revitalizing Venezuela's oil sector. But he says the Trump administration is unlikely to subsidize their efforts.
Stock futures edged higher Friday ahead of the December U.S. jobs report and a possible Supreme Court ruling on President Donald Trump's tariffs, with major equities indexes poised to register solid weekly gains.
ConocoPhillips said on Thursday its Chairman and CEO Ryan Lance will attend a White House meeting on Friday and that it was monitoring developments in Venezuela and their "potential implications for global energy supply and stability."
Top oil companies will meet with President Donald Trump on Friday to discuss rebuilding Venezuela's oil industry.
The largest oil companies are likely to move slower in terms of making investments in Venezuela, with wildcatters or independent oil companies likely to move much more quickly, U.S. Treasury Secretary Scott Bessent said on Thursday.
Chevron is the only one of the three major U.S. oil companies that operates in Venezuela. ConocoPhillips and ExxonMobil exited Venezuela in 2007 after Hugo Chávez nationalized the industry.
Chevron, the only U.S. oil company operating inside Venezuela, saw the biggest gains Monday. ConocoPhillips and ExxonMobil, which have unresolved monetary claims against the Venezuelan government, also climbed.
Tom Friedman, The New York Times opinion columnist, joins 'Squawk Box' to discuss the situation in Venezuela following the capture of president Nicolas Maduro, practicality of America's Venezuela oil plan, future of Venezuela, and more.
CX Institutional boosted its stake in shares of ConocoPhillips (NYSE: COP) by 7.2% during the undefined quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 83,633 shares of the energy producer's stock after buying an additional 5,640 shares during the period. CX Institutional's
U.S. oil companies want "serious guarantees" from Washington before they make large investments in Venezuela, as President Donald Trump urges them to back his bid to reshape energy markets, the Financial Times reported on Wednesday.
Venezuela owes ConocoPhillips and ExxonMobil billions of dollars in arbitration claims after it nationalized the oil industry in 2007. Energy Secretary Chris Wright said those claims need to be paid but are not an immediate priority.
Titan Minerals Ltd (ASX:TTM, OTC:TTTNF) has continued to expand the footprint of its Dynasty Gold Project in southern Ecuador, with extensional trenching...