U.S. and global oil giants meet at the White House as the administration seeks private investment to revive Venezuela’s faltering oil industry and boost crude output.

Repsol among oil executives set to meet with Trump on Venezuela investments

U.S. and global oil giants meet at the White House as the administration seeks private investment to revive Venezuela’s faltering oil industry and boost crude output.

January 9, 2026

Reuters

Logo of the Spanish oil company Repsol at a gas station in Vecindario, on the island of Gran Canaria, Spain, January 9, 2026.

Borja Suarez/Reuters

The White House is convening a meeting on Friday (January 9) 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.

The companies include Spanish firm Repsol, as well as 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

The full list of companies expected to attend with Spanish Repsol include companies Chevron Corp, Exxon Mobil, Shell, Vitol or Trafigura, among others.

Production: Leonardo Benassatto, Guillermo Martinez, Elena Rodriguez/Reuters