The Trump administration is painting its foray into the Latin American country’s oil patch as about more than drilling. Investing in a little-known private operator will give the U.S. the chance, officials argue, to police the corruption that has long troubled the industry there. American oil executives say that plan sounds like trouble.

 

Why Big Oil Is Wary of Trump’s Foray Into Venezuela’s Oil Patch

Energy industry has long opposed government intervention; some executives are worried the U.S. is creating a giant with the ability to push them around

By 

Collin Eaton

 and 

Vera Bergengruen

Sept. 3, 2026 9:00 pm ET