World Business Report President Trump lays out plans for Venezuela's oil reserves.
Jan 9, 2026
Aurelio Fernandez-Conchazo, a Venezuelan lawyer specializing in international business, and Chris Lowe, Chief Economist at FHN Financial, share insights on the U.S. plan to allow select firms to tap into Venezuela's oil reserves. They discuss the critical need for legal certainty and lifted sanctions to attract investment. Lowe further explores economic repercussions, including impacts on global oil pricing and market dynamics. The conversation highlights the broader implications for U.S.-Venezuela relations and the energy landscape.
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US Plans Rapid Rebuild Of Venezuelan Oil
- President Trump said the US will choose which American firms can exploit Venezuela's oil and asked them to invest at least $100 billion to rebuild capacity.
- He claimed the US will immediately refine and sell up to 50 million barrels of Venezuelan crude, signalling rapid re-entry to global markets.
Chevron Signals Willingness To Reinvest
- Mark Nelson of Chevron framed the company as committed to Venezuela's past, present and future and thanked the President for leadership.
- Aurelio Fernandez-Conchazo said many oil CEOs present seemed willing to invest, though some remained cautious.
Sanctions Are The Key To Real Investment
- Aurelio Fernandez-Conchazo emphasised that lifting sanctions is the crucial first step before investors will move in at scale.
- He warned legal and expropriation risks remain significant without clear sanctions relief and legal certainty.