Trump reserves right to use military force to secure oil interests in Venezuela, White House says
ChevronChevron(US:CVX) CNBC·2026-01-07 18:51

Group 1: U.S. Military and Oil Interests - President Trump reserves the right to use military force to secure U.S. oil interests in Venezuela, as stated by White House press secretary Karoline Leavitt [1] - The U.S. does not currently have troops on the ground in Venezuela, and diplomacy is prioritized over military action [2] Group 2: Oil Industry Engagement - Trump has called for U.S. oil majors to invest billions to rebuild Venezuela's energy sector, with a meeting scheduled with executives from ExxonMobil, ConocoPhillips, and Chevron [2][3] - Chevron is currently the only U.S. oil major operating in Venezuela under a special license issued by the U.S. [3] Group 3: Venezuela's Oil Production and Sales - Venezuela has the largest proven crude oil reserves globally and was producing about 800,000 barrels per day recently [5] - Venezuela is expected to send 30 million to 50 million barrels of sanctioned oil to the U.S., which will be sold at market prices, with the U.S. controlling these oil sales indefinitely [6] - The U.S. aims to leverage control over Venezuela's oil sales to drive necessary changes within the country [7]

Trump reserves right to use military force to secure oil interests in Venezuela, White House says - Reportify