FT reports that US oil companies need guarantees before investing in Venezuela.
The Financial Times reported that U.S. Oil Companies want "serious assurances" from Washington before making large?investments into Venezuela. President Donald Trump wants them to support his efforts to reshape the energy?markets.
The FT, citing sources familiar with the issue, reported that U.S. officials met with energy executives on Wednesday in Miami.
Washington and Caracas are progressing, so the talks will come.
negotiations
Donald Trump has urged American oil companies to invest in Venezuela's energy sector and to provide up to 50,000,000 barrels of Venezuelan crude oil to the United States.
Trump will meet with 'heads of major oil firms at the White House on Friday, to discuss ways to increase Venezuela's oil output. Exxon Mobil ConocoPhillips, and Chevron representatives are expected to attend, according to reports released Wednesday.
Chevron Exxon ConocoPhillips and Conoco did not respond immediately to requests for comments on the FT report.
FT reported that the executives meeting is expected to pressure the president to provide strong legal and financial assurances before they commit capital to Venezuela.
White House and State Department officials told U.S. executives of the oil industry in recent weeks that they 'would need to return to Venezuela rapidly to revive the damaged petroleum industry in the country if they wanted compensation for assets taken by Venezuela 20 years ago.
Could not verify immediately the report.
(source: Reuters)
