US Secretary of Energy Wright said after talks with executives that ConocoPhillips, ExxonMobil and other US oil companies are studying how to play a role in revitalizing the Venezuelan energy industry. Wright said, “Maybe we'll set up a framework for them to reenter on a large scale, but in the meantime, they won't sit back and wait.” He added that as the only US oil giant still operating in Venezuela, Chevron is expected to rapidly expand its business in Venezuela. Oil companies are wary of investing tens of billions of dollars into the country over the next ten years. Amid concerns about the stability of the government after Maduro steps down, they are seeking guarantees of personal and financial security. ExxonMobil and ConocoPhillips previously operated in Venezuela, but were withdrawn in the early 21st century after their assets were nationalized by Maduro's predecessor Hugo Chávez.

US Secretary of Energy Wright said after talks with executives that ConocoPhillips, ExxonMobil and other US oil companies are studying how to play a role in revitalizing the Venezuelan energy industry. Wright said, “Maybe we'll set up a framework for them to reenter on a large scale, but in the meantime, they won't sit back and wait.” He added that as the only US oil giant still operating in Venezuela, Chevron is expected to rapidly expand its business in Venezuela. Oil companies are wary of investing tens of billions of dollars into the country over the next ten years. Amid concerns about the stability of the government after Maduro steps down, they are seeking guarantees of personal and financial security. ExxonMobil and ConocoPhillips previously operated in Venezuela, but were withdrawn in the early 21st century after their assets were nationalized by Maduro's predecessor Hugo Chávez.