Trump Assures Oil Executives They Will 'Total Safety' Investing in Venezuela After Maduro Ouster
In a bid to rapidly secure $100 billion in investments to revive Venezuela's oil industry, President Donald Trump has appealed to oil executives to rush back into the country, offering them "total safety" and backing their ventures with his administration.
During a meeting at the White House, where 17 major oil companies including Chevron, ExxonMobil, and ConocoPhillips were in attendance, Trump emphasized that investments would be made directly by the giants rather than through government channels. However, he stressed the importance of protection for these corporations as they explore Venezuela's untapped oil reserves.
Trump assured them: "You have total safety... You're dealing with us directly and not dealing with Venezuela at all."
The US President made this statement amid a heightened military presence in Venezuela following the ouster of incumbent leader Nicolás Maduro, who was removed from power through a US-backed operation. The move has led to concerns over security and stability in the region.
Trump's administration aims to capitalize on the new economic opportunities presented by the situation and has taken measures to seize control of previously sanctioned Venezuelan oil sales. The White House claims that this will help ensure a stable supply chain for the nation's energy needs.
In contrast, industry executives expressed skepticism about investing in Venezuela due to ongoing sanctions and the current political uncertainty. Darren Woods, CEO of ExxonMobil, stated: "If we look at the commercial constructs and frameworks in place today in Venezuela, today it's un-investable... There has to be durable investment protections and there has to be change to the hydrocarbon laws in the country."
The situation in Venezuela remains precarious as oil production continues to slump below one million barrels a day. Trump faces a challenge in convincing major oil companies that his administration can provide stable security guarantees for their investments.
In another development, the US has expressed interest in restoring diplomatic relations with Venezuela, and a delegation from the Trump administration arrived in Caracas on Friday for an assessment of the potential reopening of the US Embassy there.
The visit comes as tensions between Trump and Venezuelan leader Gustavo Petro have eased following a friendly phone call. The Colombian president has welcomed the change in tone, despite remaining concerned over issues such as cocaine trafficking.
In a bid to rapidly secure $100 billion in investments to revive Venezuela's oil industry, President Donald Trump has appealed to oil executives to rush back into the country, offering them "total safety" and backing their ventures with his administration.
During a meeting at the White House, where 17 major oil companies including Chevron, ExxonMobil, and ConocoPhillips were in attendance, Trump emphasized that investments would be made directly by the giants rather than through government channels. However, he stressed the importance of protection for these corporations as they explore Venezuela's untapped oil reserves.
Trump assured them: "You have total safety... You're dealing with us directly and not dealing with Venezuela at all."
The US President made this statement amid a heightened military presence in Venezuela following the ouster of incumbent leader Nicolás Maduro, who was removed from power through a US-backed operation. The move has led to concerns over security and stability in the region.
Trump's administration aims to capitalize on the new economic opportunities presented by the situation and has taken measures to seize control of previously sanctioned Venezuelan oil sales. The White House claims that this will help ensure a stable supply chain for the nation's energy needs.
In contrast, industry executives expressed skepticism about investing in Venezuela due to ongoing sanctions and the current political uncertainty. Darren Woods, CEO of ExxonMobil, stated: "If we look at the commercial constructs and frameworks in place today in Venezuela, today it's un-investable... There has to be durable investment protections and there has to be change to the hydrocarbon laws in the country."
The situation in Venezuela remains precarious as oil production continues to slump below one million barrels a day. Trump faces a challenge in convincing major oil companies that his administration can provide stable security guarantees for their investments.
In another development, the US has expressed interest in restoring diplomatic relations with Venezuela, and a delegation from the Trump administration arrived in Caracas on Friday for an assessment of the potential reopening of the US Embassy there.
The visit comes as tensions between Trump and Venezuelan leader Gustavo Petro have eased following a friendly phone call. The Colombian president has welcomed the change in tone, despite remaining concerned over issues such as cocaine trafficking.
... I mean, oil executives are gonna invest $100 billion in Venezuela after a US-backed coup? That's a pretty convenient deal for him, considering the whole thing is still super unstable 
. And let's be real, Chevron and ExxonMobil aren't exactly the most risk-averse companies out there 
.
. It's all about playing the global game of geopolitics, where everyone's just trying to find a way to get ahead 
. One thing's for sure: Trump's got his eyes on the prize, and he won't stop until he gets it 
.
. I mean, he's basically saying that his admin will provide "total safety" for these companies, but can we really trust him on that? 
It seems like a recipe for disaster to me. Industry execs are already skeptical about investing in Venezuela, and now Trump is trying to sweet-talk them into coming back with his "guarantees". Give me a break... 
. Trump's gotta make some concrete changes if he wants to convince those oil execs that their investments will be safe 
.
. Like, who wouldn't want to risk their money on a country with a history of corruption and economic collapse? And Trump is like, "Hey guys, I've got your back" with his "total safety" promise 
.
and the us is all like "but trust me, you'll be safe!" 
... Maduro got ousted, but that's not exactly a reason for them to rush back in 
... seems like trump's more interested in getting rich off venezuela than actually helping the country 
... and what about the sanctions? aren't those still a thing? 
And now he's saying they can deal directly with his admin without going through Venezuela? That sounds sketchy to me... 