Country is ‘uninvestable’ today, president told, but CEOs signal they are ready to spend with support
Donald Trump promised oil giants “total safety, total security” in Venezuela in an effort to persuade them to invest $100bn in the country’s infrastructure after US forces toppled Nicolás Maduro from power.
At a roundtable press conference at the White House on Friday afternoon with more than a dozen oil executives, including leaders from Chevron, ExxonMobil and ConocoPhilips, the US president doubled down on claims that Maduro’s arrest presents American oil companies with an unprecedented opportunity for extraction.
Many of the executives expressed support for the Trump administration’s actions in Venezuela last weekend – and hinted that they stood ready to invest.
Analysts have expressed skepticism that oil firms will invest vast sums as rapidly as Trump has suggested they will. Earlier this week, the president suggested production in Venezuela could be boosted within 18 months.
