Trump presses top oil executives to invest in Venezuela's reserves
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US President Donald Trump urged leading oil executives to consider investing in Venezuela's vast oil reserves during a recent meeting at the White House. However, the response from industry leaders was tepid, with ExxonMobil's CEO, Darren Woods, labeling Venezuela as 'uninvestable' unless significant reforms are implemented. This highlights the ongoing challenges in attracting foreign investment in the Venezuelan oil sector.
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Venezuela possesses some of the largest oil reserves in the world, yet years of mismanagement, corruption, and political strife have rendered the sector largely dysfunctional. The Trump administration's interest in revitalizing this sector ties into broader geopolitical and economic interests, particularly in the context of U.S. sanctions against the Venezuelan government.
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