RoydadNaft –  Major U.S. oil companies are demanding robust assurances from the Trump administration before committing significant capital to Venezuela, as President Donald Trump pushes them to help overhaul the country’s energy sector, the Financial Times reported Wednesday.

Senior U.S. officials met with top energy executives in Miami on Wednesday, according to people familiar with the discussions cited by the FT.

The meetings follow advancing negotiations between Washington and Caracas to export up to 50 million barrels of Venezuelan crude to the United States, alongside Trump’s efforts to draw American firms back into Venezuela’s long-neglected oil industry.

Trump is set to host leaders from Exxon Mobil, ConocoPhillips, and Chevron at the White House on Friday to explore options for boosting Venezuela’s output, as previously reported by Reuters.

Neither Chevron, Exxon, nor ConocoPhillips immediately responded to requests for comment on the FT story.

Executives are expected to urge the president to offer solid legal protections and financial safeguards before they invest heavily in the OPEC nation, the FT noted.

In recent weeks, White House and State Department officials have pressed U.S. oil leaders to quickly re-enter Venezuela and fund major upgrades to its damaged infrastructure—in exchange for potential compensation related to assets seized by the government two decades ago—according to earlier Reuters reporting.