Trump calls on oil companies to invest billions in Venezuela

manager24.pl 2 weeks ago

President of the United States Donald Trump) met with the heads of the world's largest oil companies on Friday and called on them to invest $100 billion in Venezuela. The goal, as he said, is to rebuild the country's energy sector after the President's arrest Nicolas Maduro (63) and a crucial increase in oil production. "American companies will be able to rebuild Venezuela's decaying energy infrastructure," Trump said at the beginning of the White home meeting. He besides praised the agreement with the Provisional Government of Venezuela on the transportation of 50 million barrels of oil to United States.

Exxon and ConocoPhillips left Venezuela almost 20 years ago, after their assets were nationalized. During the gathering Trump announced that the United States would besides offer these companies the protection of staff and facilities as well as financial guarantees for their investment. Secretary for Energy Chris Wright (60) He besides raised the anticipation of utilizing the US Export and Import Bank to finance large oil projects.

Septic petroleum companies

The industry's giants stay skeptical. For example, president ExxonMobil , Darren Woods (60), warned that Venezuela would stay "non-investment" without "significant changes". Thus he explicitly rejected Trump's appeal to invest billions of dollars in the revival of the Venezuelan oil industry.

Smaller independent companies present at the meeting, however, expressed their willingness to invest in the country. Chevron, the only American oil giant inactive operating in this country, confirmed his commitment. According to US Energy Secretary Wright, the company sees fresh permits from the U.S. government as a way to increase production by 50 percent over the next 18 to 24 months.

Unlike the oil companies, the main companies trading in natural materials, Trafibra and Vitol, at the request of the US government, have already agreed to aid sale Venezuelan oil. Trafigure will burden his first ship as early as next week, told Trump at the president's gathering Richard Holtum manager Vitol stated that they would be pleased to contribute to the marketplace launch of oil. Secretary of Energy Wright spoke of a "great interest" at the gathering and called the interactions with Venezuela "fantastic".

According to respective people acquainted with the case, the announcement immediately sparked a feverish search for oil tankers and the organization of safe transportation of oil. Venezuela is storing oil in old, poorly maintained oil tankers. Direct contact with these ships is problematic, even with American licenses, due to liability and insurance issues. Land retention facilities have besides been reportedly unpreserved for years. According to informants, shipping companies are presently considering expanding cargo operations between ships.

US forces raided and arrested Venezuelan president Maduro in the capital, Caracas, on 3 January. U.S. actions met with global criticism. The Office of the United Nations advanced Commissioner for Human Rights has designated it a violation of global law. U.S. president Trump stated this week that the United States will be overseeing Venezuela "a lot longer than a year". Government representatives expressed their desire to control sales and gross indefinitely Venezuela from oil, arguing that this is to guarantee the country's operation in the interests of America.

Trump identified oil as a precedence in his strategy for this South American country. As he has already announced, the United States intends to buy 30 to 50 million barrels of oil from Venezuela. According to Trump, Venezuela agreed to allocate oil sales gross exclusively for the acquisition of goods produced in America. These include agricultural products, pharmaceutical products, medical equipment and energy network and infrastructure modernisation equipment.

Read Entire Article