"US oil firms will invest heavily to reconstruct rotted infrastructure, ramp up production and sell large amounts to other countries, he told reporters, adding: We're in the oil business. We're going to have our very large United States oil companies - the biggest anywhere in the world - go in, spend billions of dollars, fix the badly broken infrastructure and start making money for the country."
"Chevron, the only US oil company still operating in Venezuela, committed only to following relevant laws and regulations after the US president suggested American energy multinationals would be central to his plans for the country. A spokesperson for Chevron said: Chevron remains focused on the safety and wellbeing of our employees, as well as the integrity of our assets. We continue to operate in full compliance with all relevant laws and regulations."
Donald Trump said US oil multinationals would invest billions to modernize and exploit Venezuela's vast oil reserves and repair decayed infrastructure after the ouster of Nicolas Maduro. He predicted large US firms would ramp up production, sell oil internationally, and be reimbursed, without providing details. Chevron, the sole US firm still operating in Venezuela, said it will comply with relevant laws and focus on employee safety and asset integrity. ExxonMobil did not respond to requests for comment. ConocoPhillips said it was monitoring developments and called speculation on future investments premature. ExxonMobil and ConocoPhillips previously pursued years-long legal battles with Venezuela and were awarded billions.
Read at www.theguardian.com
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