White House prepares meetings with oil giants to develop Venezuela's resources
Kyiv • UNN
The Trump administration plans meetings with oil company executives to discuss increasing oil production in Venezuela after Maduro's removal. Companies deny prior consultations, and analysts warn of the need for billions in investment.
The Donald Trump administration plans to hold a series of meetings with the heads of major US oil companies later this week. The main topic of discussion is the restoration and increase of oil production in Venezuela after the removal of Nicolas Maduro from power. This is reported by Reuters, writes UNN.
Details
Despite President Trump's statements that he had already consulted with "all" oil companies, industry representatives deny that such negotiations have taken place to date. In particular, Exxon Mobil, ConocoPhillips, and Chevron have not yet confirmed contacts with the White House regarding the operation to capture Maduro.
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No one in these three companies has held talks with the White House regarding activities in Venezuela, neither before nor after the deportation
Future plans and challenges
Washington hopes that American investments will help restore Venezuela's energy infrastructure, which holds the world's largest oil reserves. However, analysts warn that this process will require billions in investment and years of work due to the significant degradation of the industry under the previous regime.
All of our oil companies are ready and willing to make large investments in Venezuela that will allow them to restore their oil infrastructure, destroyed by the illegal Maduro regime
Representatives of the oil sector also express concern about the format of future meetings. Due to antitrust legislation, companies prefer to discuss investment plans and production levels individually, rather than within collective negotiations with competitors.