Among the companies that participated in the meeting were: Chevron, Exxon, ConocoPhillips, Shell, Hilcorp, Eni, Repsol, Continental, Halliburton, HKN, Valero, Marathon, Trafigura, Vitol Americas, Aspect Holdings, Tallgrass and Raisa Energy
The world’s main oil companies are cautious about the proposal made by the president of the United States, Donald Trump, for them to return to Venezuela.
The president asks them for an investment of 100,000 million dollars to revitalize the oil industry in Venezuela. This Friday, January 9, during a meeting at the White House, he offered them long-term “government protection and security” and urged them to invest.
«They know the risks. That is, there are risks. We are going to help them. We are going to make it a lot easier for you. They’re going to be there for a long time. We will be there together for a long, long time. And they are going to extract the oil and they are going to lower oil prices. They are going to make a lot of money. “They are going to recover their investment,” Trump said.
Among the companies that participated in the meeting, according to media reports, are: Chevron, the only US oil company present today in Venezuela, Exxon, ConocoPhillips, Shell, Hilcorp, Eni, the Spanish Repsol, Continental, Halliburton, HKN, Valero, Marathon, Trafigura, Vitol Americas, Aspect Holdings, Tallgrass and Raisa Energy.
*Also read: Trump plays ahead: he decrees an emergency to protect revenue from oil sales
What the oil companies ask for
Exxon Mobil. “Our assets have been seized there twice, so you’d imagine re-entering a third time would require some pretty significant changes from what we’ve seen historically and the current situation,” Exxon Mobil CEO Darren Woods said.
The manager called for lasting protections for investment and a change in the country’s hydrocarbon laws. He stated that the current legal and commercial structures and frameworks are not attractive for investment. Considers it important to send a technical evaluation team to Venezuela.
ConocoPhillips. CEO, Ryan Lance, insisted that it is necessary to talk about the restructuring of Venezuela’s sovereign debt to finance the injection of dollars into the energy industry.
ConocoPhillips maintains one of the largest individual claims against the Venezuelan Government for the expropriation of its assets in 2007, with a debt that amounts to 12.00 million dollars.
Repsol. The CEO of Repsol, Josu Jon Imaz, assured that the company is prepared to “invest heavily in Venezuela” and to multiply its crude oil production in the Caribbean country by three, to approximately 135,000 barrels per day.
Repsol is the Iberian company that maintains the greatest economic and strategic ties with Venezuela, where it has operated for more than 30 years and where it has mining rights, although most of it remains undeveloped.
With information from the EFE agency
*Journalism in Venezuela is carried out in a hostile environment for the press with dozens of legal instruments in place to punish the word, especially the laws “against hate”, “against fascism” and “against the blockade.” This content was written taking into consideration the threats and limits that, consequently, have been imposed on the dissemination of information from within the country.
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