Updated Jan. 6, 2026, 4:25 p.m. ET
Energy Secretary Chris Wright will meet with oil executives at a conference in Miami on Jan. 7, just days after the United States captured the head of Venezuela, which has the largest oil reserves in the world.
President Donald Trump said Jan. 5 that U.S. companies could invest in Venezuela to turn around its low production numbers. Chevron is currently the only major U.S. oil company operating in Venezuela.
“Secretary Wright remains in close contact with U.S. oil companies and plans to meet with several of them at the Goldman Sachs Energy Conference in Miami on Wednesday,” Ben Dietderich, press secretary of the Department of Energy, told USA TODAY in a statement.
U.S. oil companies historically had a presence in Venezuela, but many left when then-leader Hugo Chavez attempted to seize their assets as part of a nationalization push in 2007. The country’s production of crude oil has dropped precipitously since 2012.
The Department of Energy did not say which companies would meet with Wright on Wednesday. Chevron and Hess are among the many names that said publicly they would attend the conference.
“ConocoPhillips is monitoring developments in Venezuela and their potential implications for global energy supply and stability,” Dennis Nuss, a spokesperson for the Houston-based energy producer, told USA TODAY in a statement. “It would be premature to speculate on any future business activities or investments.”
Bill Turenne, a spokesperson for Chevron, told USA TODAY that the company does not speculate on future investments.
