US Prez promises oil executives total safety if they invest in Venezuela

Washington, Jan 10: President Donald Trump on Friday called on oil executives to rush back into Venezuela as the White House tries to quickly secure $100 billion in investments to fix the country’s neglected infrastructure and fully tap into its expansive reserves of petroleum.
Since the US military raid to capture former Venezuelan leader Nicolás Maduro on Saturday, Trump has quickly pivoted to portraying the move as an economic opportunity for the US. He has seized tankers carrying Venezuelan oil, has said the US is taking over the sales of 30 million to 50 million barrels of previously sanctioned Venezuelan crude, and plans to control sales worldwide indefinitely.
At the White House meeting, major oil companies said they were interested in the opportunity but expressed caution given their past experience in the country. “If we look at the commercial constructs and frameworks in place today in Venezuela, today it’s un-investable,” said Darren Woods, CEO of ExxonMobil, the largest US oil company.
Trump used the meeting to publicly assure executives that they need not be skeptical, even though the South American country has a history of state asset seizures, ongoing US sanctions and decades of political uncertainty. “You have total safety,” Trump told the executives. “You’re dealing with us directly and not dealing with Venezuela at all. We don’t want you to deal with Venezuela.”
The president said the security guarantee would come from working with Venezuelan leaders and their people, instead of deploying US forces. He also said the companies would “bring over some security.” (AP)