Aformer senior Chevron executive, Ali Moshiri, is seeking to raise $2 billion to finance oil projects in Venezuela, following the recent United States-led removal of President Nicolás Maduro and the subsequent call by Donald Trump for renewed investment in the country’s vast hydrocarbon reserves.
Moshiri, who formerly headed Chevron’s Latin American operations, confirmed that his firm, Amos Global Energy Management, has identified multiple oil assets and is engaging institutional investors to initiate a private placement. He described the developments in Venezuela as “a breakthrough moment” that could open the world’s largest crude reserves to renewed foreign participation.
According to Moshiri, “Our $2 billion private placement memorandum is ready to go, with several investment targets identified.” He stated that investor interest had risen sharply in the wake of the US-led intervention, noting that within 24 hours of the announcement, his firm received “a dozen calls” from potential backers.
The US military’s capture of Maduro and President Trump’s appeal for US energy companies to “revive Venezuela’s oil industry” have triggered widespread speculation about a new wave of corporate engagement in the Latin American nation. The situation draws parallels to the opening of Iraq’s oilfields in 2009, which similarly followed a period of armed intervention and geopolitical realignment.
Industry analysts, however, have cautioned that US oil majors remain hesitant to commit capital amid lingering concerns over political stability, historical expropriations, and the substantial costs required to rehabilitate Venezuela’s dilapidated oil infrastructure. A senior industry insider noted that executives at ExxonMobil, Chevron, and ConocoPhillips were not consulted prior to the military operation or the public investment call.
Amos’s investor memorandum, dated December 2025, outlines plans to acquire 20,000 to 50,000 barrels per day of production and approximately 500,000 barrels in reserves from Petróleos de Venezuela (PDVSA), the state-owned oil company. The fund anticipates a five- to seven-year investment horizon and a projected 2.5x return on capital.
Other private energy investors, including Harold Hamm of Continental Resources, have also indicated potential interest. Hamm stated that his firm would consider investment “under the right circumstances,” highlighting that improved governance and regulatory stability would be essential preconditions for participation.
While private capital may respond more rapidly to Trump’s invitation, analysts emphasise that only major international producers possess the financial capacity and technical expertise required to restore Venezuela’s heavy crude production at scale. Chevron, already operating in the country under a special licence, is widely viewed as the most strategically positioned entity to expand operations.
ExxonMobil and ConocoPhillips, both of which continue to pursue international arbitration awards for past expropriations, have maintained a cautious stance. ExxonMobil is seeking payment of a $1.6 billion award, while ConocoPhillips is pursuing enforcement of an $8.4 billion settlement.
Speaking on US national television, Secretary of State Marco Rubio stated that Washington would restrict participation in Venezuela’s oil sector to producers from allied nations. He specifically excluded China, Russia, and Iran, framing the policy within a hemispheric security doctrine that prioritises Western control over regional energy assets.
European companies, including Spain’s Repsol and Italy’s Eni, may re-enter Venezuela if sanctions are lifted and fiscal terms are adjusted to ensure equitable access.
Moshiri, who has previously attempted to secure Venezuelan assets, said his earlier efforts were obstructed by licensing barriers under the Biden administration. With what he describes as a “more commercially oriented” administration in Washington, Moshiri expressed confidence that Amos Global Energy could now proceed with its investment strategy.
The evolving situation in Venezuela offers a revealing case study for the Global South, including African nations, in how energy sovereignty intersects with external political interests. The Venezuelan experience underscores the persistent challenge of reconciling domestic control over natural resources with the imperatives of foreign capital and global energy markets.
From an African perspective, parallels can be drawn with oil-rich nations such as Nigeria, Angola, and Equatorial Guinea, where the balance between national interest and multinational involvement remains a central policy question. The Venezuelan episode serves as both a cautionary and instructive example of the vulnerabilities of resource-dependent economies navigating geopolitical shifts.
While the unfolding dynamics in Caracas may appear distant from the African continent, they reinforce broader debates about the future of energy independence, regional cooperation, and the global balance of resource ownership.
