Response comes after Donald Trump pressured oil companies to invest US$100 million in the South American country
One week after the USA capture Nicolas Maduro under the argument of trying him for drug trafficking and with the aim of controlling Venezuelan oil, the government of Donald Trump received a not very favorable message from Exxonmobil, the largest oil company in the USA. According to them, it is impossible to invest in Venezuela. “Today, it is impossible to invest in Venezuela,” said Executive President Darren Woods, after the Republican forced oil companies to invest US$100 billion in the South American country to expand legal production.
“Our assets were confiscated there twice, so you can imagine that re-entering a third time would require quite significant changes,” Woods said, emphasizing that without deep reforms, investing in Venezuela is unfeasible. The company left the country almost 20 years ago after the nationalization of its assets.
“Significant changes need to be made to commercial structures and the legal system. Lasting protections for investments and changes to hydrocarbon laws in the country are needed,” said the executive president, informing that he will still send a team to assess the situation.
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Despite the resistance to what he will find and to the operation, Woods says he is confident that, with the Trump administration working together with that of Venezuela, the necessary changes can be implemented.
Since the oil companies left Venezuela, Chevron is the only one that continues to operate in the country and is committed to investing in Venezuela. This Saturday, after announcing on Tuesday (6) that the Venezuelan government agreed to give up to 50 million barrels of oil to the USA and that the money would be used for the well-being of the Venezuelan and North American population, President Trump signed a decree to protect profits from Venezuelan oil in the United States. With it, the Republican seeks to “promote the objectives of American foreign policy,” said the White House in a statement accompanying the decree.
