VATICAN CITY (AP) — Catholic cardinals from around the world gathered in the Vatican on Wednesday for the start of the conclave, the centuries-old secret voting ritual to elect a new pope to follow Pope Francis, who died April 21. The 133 cardinals are taking part in the most geographically diverse conclave in the faith’s 2,000-year history. Their cellphones are surrendered and airwaves around the Vatican are jammed to prevent all communications until they find a new leader for the 1.4 billion-member church.
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Black smoke billows from the chimney of the Sistine Chapel, where 133 cardinals are gathering on the first day of the conclave, indicating that a successor of late Pope Francis was not elected, Wednesday, May 7, 2025. (AP Photo/Antonio Calanni)
Nuns applaud as black smoke billows from the chimney of the Sistine Chapel during the cardinals' conclave to elect a new pope, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Francisco Seco)
Black smoke billows from the chimney of the Sistine Chapel, where 133 cardinals are gathering on the first day of the conclave, indicating that a successor of late Pope Francis was not elected, Wednesday, May 7, 2025. (AP Photo/Bernat Armangue)
People gather in St Peter's Square as they wait to see the smoke billow from the chimney of the Sistine Chapel in St Peter's Square during the cardinals' conclave to elect a new pope, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Francisco Seco)
Black smoke billows from the chimney of the Sistine Chapel during the conclave to elect a new pope, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Andrew Medichini)
People gather in St Peter's Square as they wait to see the smoke billow from the chimney of the Sistine Chapel in St Peter's Square during the cardinals' conclave to elect a new pope, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Francisco Seco)
People gather in St Peter's Square as they wait to see the smoke billow from the chimney of the Sistine Chapel in St Peter's Square during the cardinals' conclave to elect a new pope, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Andrew Medichini)
People wait in St. Peter's Square at the Vatican to catch a glimpse of the smoke billowing from the chimney of the Sistine Chapel, where 133 cardinals are gathering on the first day of the conclave that will elect the successor of late Pope Francis, Wednesday, May 7, 2025. (AP Photo Markus Schreiber)
People gather in St Peter's Square as they wait to see the smoke billow from the chimney of the Sistine Chapel in St Peter's Square during the cardinals' conclave to elect a new pope, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Markus Schreiber)
Cardinals arrive to attend the first day of the conclave to elect the successor of late Pope Francis inside the Sistine Chapel at the Vatican, Wednesday, May 7, 2025. (Vatican Media via AP)
People watch on a giant screen as the cardinals take their oath in the Sistine Chapel during the cardinals' conclave to elect a new pope, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Alessandra Tarantino)
A giant screen in St Peter's Square shows a seagull near the chimney of the Sistine Chapel during the cardinals' conclave to elect a new pope, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Luca Bruno)
A giant screen in St Peter's Basilica shows a Vatican official closing the door to the Sistine Chapel after calling out "extra omnes", Latin for "all out", during the cardinals' conclave to elect a new pope, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Bernat Armangue)
Activists from the Women's Ordination Conference release pink smoke to call for full equality for women in the Catholic Church on the first day of the conclave to elect the 267th pope, in Rome, Wednesday, May 7, 2025. (AP Photo/Bernat Armangue)
Faithful capture images with their smartphones of cardinals during a final Mass inside St. Peter's Basilica before the conclave to elect a new pope, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Gregorio Borgia)
Clouds pass over St Peter's Basilica during the cardinals' conclave to elect a new pope, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Bernat Armangue)
Priests standing on a terrace look at St. Peter's Square, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Gregorio Borgia)
Nuns enter an ice cream coffee bar near the Vatican, in Rome, on Wednesday, May 7, 2025, on the day cardinals sequester themselves at the Vatican for the start of a conclave to elect the 267th Roman pontiff, a successor to Pope Francis. (AP Photo/Francisco Seco)
A faithful arrives in St. Peter's Square for the conclave to elect a new pope, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Francisco Seco)
The chimney atop the roof of the Sistine Chapel during the conclave, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Andrew Medichini)
Faithful kneel during a final Mass celebrated by cardinals inside St. Peter's Basilica, before the conclave to elect a new pope, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Gregorio Borgia)
Cardinal Giuseppe Versaldi walks through the St. Anna gate, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Francisco Seco)
A woman holds up a sign for peace in St Peter's Square during the cardinals' conclave to elect a new pope, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Francisco Seco)
Cardinals, with white mitre hats, attend a final Mass inside St. Peter's Basilica, before the conclave to elect a new pope, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Gregorio Borgia)
German cardinal Gerhard Ludwig Müller walks in St. Peter's Square, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Francisco Seco)
Faithful gather in St. Peter's Square as Cardinals are entering in the Sistine Chapel to start the Conclave at the Vatican, Wednesday, May 7, 2025. (AP Photo/Gregorio Borgia)
A giant screen in St Peter's Basilica shows cardinals inside the Sistine Chapel during the conclave to elect a new pope, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Alessandra Tarantino)
Black smoke billows from the chimney of the Sistine Chapel, where 133 cardinals are gathering on the first day of the conclave, indicating that a successor of late Pope Francis was not elected, Wednesday, May 7, 2025. (AP Photo/Antonio Calanni)
Nuns applaud as black smoke billows from the chimney of the Sistine Chapel during the cardinals' conclave to elect a new pope, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Francisco Seco)
Black smoke billows from the chimney of the Sistine Chapel, where 133 cardinals are gathering on the first day of the conclave, indicating that a successor of late Pope Francis was not elected, Wednesday, May 7, 2025. (AP Photo/Bernat Armangue)
People gather in St Peter's Square as they wait to see the smoke billow from the chimney of the Sistine Chapel in St Peter's Square during the cardinals' conclave to elect a new pope, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Francisco Seco)
Black smoke billows from the chimney of the Sistine Chapel during the conclave to elect a new pope, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Andrew Medichini)
People gather in St Peter's Square as they wait to see the smoke billow from the chimney of the Sistine Chapel in St Peter's Square during the cardinals' conclave to elect a new pope, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Francisco Seco)
People gather in St Peter's Square as they wait to see the smoke billow from the chimney of the Sistine Chapel in St Peter's Square during the cardinals' conclave to elect a new pope, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Andrew Medichini)
People wait in St. Peter's Square at the Vatican to catch a glimpse of the smoke billowing from the chimney of the Sistine Chapel, where 133 cardinals are gathering on the first day of the conclave that will elect the successor of late Pope Francis, Wednesday, May 7, 2025. (AP Photo Markus Schreiber)
People gather in St Peter's Square as they wait to see the smoke billow from the chimney of the Sistine Chapel in St Peter's Square during the cardinals' conclave to elect a new pope, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Markus Schreiber)
Cardinals arrive to attend the first day of the conclave to elect the successor of late Pope Francis inside the Sistine Chapel at the Vatican, Wednesday, May 7, 2025. (Vatican Media via AP)
People watch on a giant screen as the cardinals take their oath in the Sistine Chapel during the cardinals' conclave to elect a new pope, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Alessandra Tarantino)
A giant screen in St Peter's Square shows a seagull near the chimney of the Sistine Chapel during the cardinals' conclave to elect a new pope, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Luca Bruno)
A giant screen in St Peter's Basilica shows a Vatican official closing the door to the Sistine Chapel after calling out "extra omnes", Latin for "all out", during the cardinals' conclave to elect a new pope, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Bernat Armangue)
Activists from the Women's Ordination Conference release pink smoke to call for full equality for women in the Catholic Church on the first day of the conclave to elect the 267th pope, in Rome, Wednesday, May 7, 2025. (AP Photo/Bernat Armangue)
Faithful capture images with their smartphones of cardinals during a final Mass inside St. Peter's Basilica before the conclave to elect a new pope, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Gregorio Borgia)
Clouds pass over St Peter's Basilica during the cardinals' conclave to elect a new pope, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Bernat Armangue)
Priests standing on a terrace look at St. Peter's Square, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Gregorio Borgia)
Nuns enter an ice cream coffee bar near the Vatican, in Rome, on Wednesday, May 7, 2025, on the day cardinals sequester themselves at the Vatican for the start of a conclave to elect the 267th Roman pontiff, a successor to Pope Francis. (AP Photo/Francisco Seco)
A faithful arrives in St. Peter's Square for the conclave to elect a new pope, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Francisco Seco)
The chimney atop the roof of the Sistine Chapel during the conclave, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Andrew Medichini)
Faithful kneel during a final Mass celebrated by cardinals inside St. Peter's Basilica, before the conclave to elect a new pope, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Gregorio Borgia)
Cardinal Giuseppe Versaldi walks through the St. Anna gate, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Francisco Seco)
A woman holds up a sign for peace in St Peter's Square during the cardinals' conclave to elect a new pope, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Francisco Seco)
Cardinals, with white mitre hats, attend a final Mass inside St. Peter's Basilica, before the conclave to elect a new pope, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Gregorio Borgia)
German cardinal Gerhard Ludwig Müller walks in St. Peter's Square, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Francisco Seco)
Faithful gather in St. Peter's Square as Cardinals are entering in the Sistine Chapel to start the Conclave at the Vatican, Wednesday, May 7, 2025. (AP Photo/Gregorio Borgia)
A giant screen in St Peter's Basilica shows cardinals inside the Sistine Chapel during the conclave to elect a new pope, at the Vatican, Wednesday, May 7, 2025. (AP Photo/Alessandra Tarantino)
WASHINGTON (AP) — President Donald Trump is meeting with oil executives at the White House on Friday in hopes of securing $100 billion in investments to revive Venezuela’s ability to fully tap into its expansive reserves of petroleum — a plan that rides on their comfort in making commitments in a country plagued by instability, inflation and uncertainty.
Since the U.S. military raid to capture former Venezuelan leader Nicolás Maduro on Saturday, Trump has quickly pivoted to portraying the move as a newfound economic opportunity for the U.S., seizing tankers carrying Venezuelan oil, saying the U.S. is taking over the sales of 30 million to 50 million barrels of previously sanctioned Venezuelan oil and will be controlling sales worldwide indefinitely.
On Friday, U.S. forces seized their fifth tanker over the past month that has been linked to Venezuelan oil. The action reflected the determination of the U.S. to fully control the exporting, refining and production of Venezuelan petroleum, a sign of the Trump administration's plans for ongoing involvement in the sector as it seeks commitments from private companies.
It's all part of a broader push by Trump to keep gasoline prices low. At a time when many Americans are concerned about affordability, the incursion in Venezuela melds Trump’s assertive use of presidential powers with an optical spectacle meant to convince Americans that he can bring down energy prices.
The meeting, set for 2:30 p.m. EST, will be open to the news media, according to an update to the president's daily schedule. “At least 100 Billion Dollars will be invested by BIG OIL, all of whom I will be meeting with today at The White House,” Trump said Friday in a pre-dawn social media post.
Trump is set to meet with executives from 17 oil companies, according to the White House. Among the companies attending are Chevron, which still operates in Venezuela, and ExxonMobil and ConocoPhillips, which both had oil projects in the country that were lost as part of a 2007 nationalization of private businesses under Maduro’s predecessor, Hugo Chávez.
The president is meeting with a wide swath of domestic and international companies with interests ranging from construction to the commodity markets. Other companies slated to be at the meeting include Halliburton, Valero, Marathon, Shell, Singapore-based Trafigura, Italy-based Eni and Spain-based Repsol.
Large U.S. oil companies have so far largely refrained from affirming investments in Venezuela as contracts and guarantees need to be in place. Trump has suggested on social media that America would help to backstop any investments.
Venezuela’s oil production has slumped below one million barrels a day. Part of Trump's challenge to turn that around will be to convince oil companies that his administration has a stable relationship with Venezuela’s interim President Delcy Rodríguez, as well as protections for companies entering the market.
Secretary of State Marco Rubio, Energy Secretary Chris Wright and Interior Secretary Doug Burgum are slated to attend the oil executives meeting, according to the White House.
Meanwhile, the United States and Venezuelan governments said Friday they were exploring the possibility of r estoring diplomatic relations between the two countries, and that a delegation from the Trump administration arrived to the South American nation on Friday.
The small team of U.S. diplomats and diplomatic security officials traveled to Venezuela to make a preliminary assessment about the potential re-opening of the U.S. Embassy in Caracas, the State Department said in a statement.
Trump also announced on Friday he’d meet with President Gustavo Petro in early February, but called on the Colombian leader to make quick progress on stemming flow of cocaine into the U.S.
Trump, following the ouster of Maduro, had made vague threats to take similar action against Petro. Trump abruptly changed his tone Wednesday about his Colombian counterpart after a friendly phone call in which he invited Petro to visit the White House.
President Donald Trump waves as he walks off stage after speaking to House Republican lawmakers during their annual policy retreat, Tuesday, Jan. 6, 2026, in Washington. (AP Photo/Evan Vucci)