Opening a meeting with oil and gas executives on January 9 at the White House, President Donald Trump sought to reassure that businesses do not need to be skeptical when investing quickly, even returning to operations in Venezuela.
You are completely safe. You are working directly with us, not working with Venezuela. We don't want you to trade with Venezuela" - Mr. Trump said.
The US President added: "Our giant oil corporations will spend at least $100 billion from their own money, not government money. They don't need government money, but they need government protection.
US President Donald Trump receives oil and gas leaders at the White House in the context that earlier on the same day, US forces seized the 5th oil tanker related to Venezuelan crude oil within a month.
This move reflects Washington's determination to comprehensively control Venezuela's exports, oil refining and oil production.
At least 100 billion USD will be poured in by large oil corporations. I will meet them all today at the White House" - Mr. Trump wrote on social media in the early morning of January 9.
The White House said it has invited leaders of 17 oil and gas companies, including Chevron - a business still operating in Venezuela, along with ExxonMobil and ConocoPhillips - two corporations that used to have oil projects in Venezuela.
To date, large US oil and gas corporations have not publicly committed to investing in Venezuela due to a lack of necessary contracts and guarantees. President Donald Trump said that the US may stand as a guarantor for these investments.
Venezuela's oil production is currently falling below 1 million barrels/day. Part of the challenge for President Donald Trump is to convince oil companies that his administration has a stable relationship with Venezuelan interim President Delcy Rodriguez while ensuring safety for businesses entering the market.
Experts believe that most companies are still waiting and observing while waiting for terms from Venezuela, political stability and see how much the US government will support. Businesses like Chevron, which are already present in Venezuela, are in a more favorable position to increase investment.
