Trump administration officials will meet with U.S.-based oil executives this week about Venezuelan oil reserves, sources say. CBS News' Ed O'Keefe has more.

Washington

Representatives from major U.S. oil companies, including Exxon, Chevron, and ConocoPhillips, are expected to meet with the Trump administration to discuss potential re-engagement with Venezuela's oil reserves. The meeting follows a recent U.S. military operation in Venezuela, with officials considering the challenges of cost, manpower, and security, as well as the need for assurances of a long-term U.S. commitment.

President Trump has stated that the U.S. should have total control and access to Venezuelan oil reserves, citing prior American investment in the country's infrastructure. While the administration has expressed hope for a 'judicious transition' in Venezuela, no specific plans or timetables have been provided, and U.S. officials continue to brief lawmakers and the United Nations on the situation.

Oil companies set to meet with Trump administration about Venezuela

This was the scene Saturday, as President Trump and his top advisers watched in real time the U.S. military operation in Venezuela play out. They did so from his club at Mar-a-Lago. Among those at the table, Defense Secretary Pete Hegseth, who told CBS News over the weekend when it comes to the future of governing Venezuela, quote, President Trump sets the terms, unquote. We turn now to the White House, where we find our Ed O'Keefe. Ed, I believe you have some new reporting on some meetings the president will have with U.S.-based oil executives. Well, at least administration officials, Major. Good evening. Happy New Year. We know now that representatives of Exxon, Chevron, and ConocoPhillips are expected to meet, at least with the Energy Secretary, Chris Wright, possibly as soon as Thursday, to discuss how exactly American energy firms might begin the process of tapping back into those Venezuelan reserves, however much may be down there. Remember, there are going to be a lot of concerns in that industry about the cost of this, not only in terms of money, but manpower and security. How stable a situation are they walking into there, potentially? How many thousands of people might be needed to help tap into those reserves or rebuild the infrastructure that's there? And what assurances might they get from this administration that this is a long-term commitment? Because it could take until well after the end of this administration for some of that work to begin, according to one person I spoke with, and so there's going to be some resistance, at least at the beginning here, about doing this. But you heard the president repeatedly over the weekend say he wants whoever's in charge of Venezuela right now to make sure that the U.S. gets total control and access to those reserves, arguing that it was the United States that built out the infrastructure for its industry, and the United States deserves to get it back. Ed, in his remarks over the weekend, the president said there would be, he hoped, a judicious transition. In your conversations today or over the weekend, have you gotten any guidance on what that might look like or what the timetable might be? Not yet. And we believe that is part of what the senior administration officials who are briefing top lawmakers at this hour up on Capitol Hill are going to get asked about and have to respond to, is to what extent are you really engaged in the governing of this country, and are you trying to set them up for a new round of elections, have the current government step away after a handful of months and respect those that came a little more than two years ago, or what, exactly? You heard the president over the weekend suggest that the interim president now, Delcy Rodriguez, is in charge and is someone that he, for now at least, believes he can work with. But if things don't work out there, then she, too, could face a fate similar to Maduro, and suggested that the opposition party, which is built, at least publicly, around Maria Carino Machado, the woman who won the Nobel Peace Prize last month, but really was only running, remember, as vice president because Venezuela's Supreme Court had barred her from running for the presidency, isn't popular enough, doesn't have the mandate. That's going to run into the buzzsaw of South Florida politics, and I know you're getting into that a little later with Mario Diaz-Balart and others who have backed her movement and believe that she is the rightful elected vice president, at least, of Venezuela, a guy named Raimundo Gonzalez would be the president had those election results come through. So all of that to be sorted out. It was telling, Major, today that the U.N. ambassador, Mike Waltz, was up at the Security Council, an emergency meeting called by Venezuela and other countries, to suggest to them there's not a total occupation underway. He said there is no war against Venezuela or its people. We are not occupying a country. This was a law enforcement operation in furtherance of lawful indictments that have existed for decades. The United States arrested a narco-trafficker who is now going to stand trial in the United States. That differs to some extent from what the president was saying. We are in charge, right? That's what he said multiple times and in multiple interviews. At least the diplomats, Secretary of State and now Ambassador Waltz, suggesting to the world, not quite that, but obviously we're going to maintain some interest. And it's mostly that economic embargo blocking those oil tankers to come to and from Venezuela that will continue as leverage. The contours of further administration actions in Venezuela and possibly the region yet to be determined. Ed O'Keefe at the White House, thank you so very much.

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