If you have been watching the internet, you have seen Secretary Rubio taking so many jobs, and AI putting him in outfits is priceless. And I loved the Babalon Bee’s article saying that we had created a thousand jobs, but Secretary Rubio was doing 900 of them.
But Secretary Chris Wright calmly handles everything that President Trump throws at him, and Venezuela is right down his ally. They held the meeting, I have the open hour included below, then they closed the doors. We will follow up after we find out more about what deals were struck. This has the potential to work, as the U.S. will control cash flow and long-term monitoring. There have been several rumors floating around that there is already cash ready for drilling and updates, but we don’t have the details.
Some key points in the meetings were guarantees of safety, and the term “Backstops” was used in case the country falters.
The main topics discussed in the meeting are:
1. The efforts to rebuild Venezuela’s oil industry and infrastructure after the removal of Nicolas Maduro’s regime. The transcript discusses the involvement of major oil companies like ExxonMobil, Chevron, ConocoPhillips, and others, and their plans to quickly restart and expand oil production in Venezuela.
2. The importance of Venezuela’s oil resources to the United States and the desire to prevent Russia or China from gaining influence in the country. President Trump emphasizes the need to secure Venezuela’s oil for the US and prevent adversaries from occupying the country.
3. The financial and commercial arrangements that need to be put in place to incentivize the oil companies to invest in Venezuela, including guarantees, legal frameworks, and the ability for the companies to quickly recoup their investments.
4. The potential economic benefits for Venezuela, the United States, and the oil companies from the revitalization of Venezuela’s oil industry under the new political leadership.
5. Discussions around specific oil company operations, capabilities, and plans to rapidly increase oil production and exports from Venezuela.
President Trump Participates in a Meeting with Oil and Gas Executives https://t.co/ah75xf1izj
— The White House (@WhiteHouse) January 9, 2026
Here are the Top Quotes
2. “We’re going to make sure they get money and we gonna get money, and the oil companies are gonna make something for the work they do and they’re gonna get back their money.” – President Trump, discussing the financial arrangements for the oil companies.
3. “We can’t have China or Russia occupy Venezuela. And if we didn’t do what we did, China or Russian would have been in Venezuela.” – President Trump, highlighting the geopolitical importance of securing Venezuela’s oil.
4. “We have 600 Venezuelans with Aliburton today, all around the world. Look forward to putting them back to work.” – Jeff Miller, CEO of Halliburton, discussing the company’s plans to rehire Venezuelan workers.
5. “We have the ability and the capability of our assets to process Venezuelan crude and the people of Marathón Petroleum stand ready to do so.” – Marianne Manon, Marathon Petroleum, expressing the company’s readiness to refine Venezuelan oil.
6. “We are ready to scale fast. And we really want to thank the administration, Secretary Wright, Secretary Bergen, for their… Supporting and giving us to be successful on behalf of the Venezuelan oil and gas industry.” – Olivier Le Peuch, CEO of SLB, acknowledging the administration’s support.
7. “There are more opportunities than not, Mr. President. With 300 billion barrels of reserves and resources in country, there are lots of opportunities for many companies.” – Mark Nelson, Vice Chairman of Chevron, highlighting Venezuela’s vast oil potential.
As I am trying to digest how this all folds out, and how the oil markets really realign, but there are some key points that are profound.
The sanction enforcement is having a major impact on the Russian/Ukraine conflict as Russia’s oil revenues are down considerably, almost 50% as of last month. Some of the other key things that have surfaced are that the cartels and other countries have found out how a handful of US troops using advanced weapons could immobilize an entire country and capture its president.
Mexico is clearly next, and the cartels had better take note that they do not have the same weapons as the U.S. military and should look for a new line of work.
The other key point from today’s meetings is that Greenland will be part of the United States, and we will not allow Russia or China to move into Greenland as they did in Venezuela. The Monroe Doctrine is alive and well. I am hopeful that the Danish Government will do a great deal for everyone.
Key Companies at the meeting:
1. ExxonMobil – Darrin Woods, CEO
2. Chevron – Mark Nelson, Vice Chairman
3. ConocoPhillips – Ryan Lance, CEO
4. VTOL – John Addison
5. Formentero – Brian Sheffield
6. Trafigura – Richard Holton
7. Allero Energy – Wayne Riggs, CEO
8. Repsol – Unidentified representative
9. Tallgrass Energy – Matt Sheehy
10. Marathon Petroleum – Marianne Manon
11. Hillcorp Energy – Jeff Hildebrand, Founder and Chairman
12. Halliburton – Jeff Miller, CEO
13. Aspect Energy – Alex Cranberg
14. Hillwood and HKN Energy – Ross Perot
15. Shell – Unidentified representative
16. SLB (Schlumberger) – Olivier Le Peuch, CEO
17. Armstrong Oil and Gas – Bill Armstrong
I will be writing about the financial aspects of oil and gas deals in Venezuela and their impact on global oil Markets.
I also did not want to put out too many articles, but this is a huge meeting. As OPEC is changing how pricing is calculated and going back to basics, like how much they can produce and how much demand there is. We have lots of questions about the future pricing and the influence of the Trump Administration on OPEC and OPEC+.
And like I wrote the other day, we will be watching how OPEC handles being “Donaled”.
Have a GREAT weekend!
Be the first to comment