Story perspectives

Venezuela’s 95% Oil Take Sparks $100 B Investment Doubt

6/7/2026

Summary

Story summary

U.S. oil companies say Venezuela’s proposed 95% government take makes the promised $100 billion investment unrealistic.
U.S. President Donald Trump’s administration seized Venezuela’s oil revenue after an early-year attack, stalling investment plans.
ConocoPhillips CEO Ryan Lance and Chevron CEO Mike Wirth warned that the 95% take and no hydrocarbon-law reform deter capital.
Rep. Sydney Kamlager-Dove questioned Secretary of State Marco Rubio about possible hidden private contracts tied to the oil revenue.

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Story summary

U.S. oil companies say Venezuela’s proposed 95% government take makes the promised $100 billion investment unrealistic.
U.S. President Donald Trump’s administration seized Venezuela’s oil revenue after an early-year attack, stalling investment plans.
ConocoPhillips CEO Ryan Lance and Chevron CEO Mike Wirth warned that the 95% take and no hydrocarbon-law reform deter capital.
Rep. Sydney Kamlager-Dove questioned Secretary of State Marco Rubio about possible hidden private contracts tied to the oil revenue.