Just days after the capture of Nicolas Maduro and the announcement that the United States will manage Venezuela’s vast oil reserves in collaboration with the interim government of Caracas, CEOs of major oil companies have arrived at the White House. Around twenty managers from the world’s leading oil companies, including Eni CEO Claudio Descalzi, met with Donald Trump in the East Room to discuss their return and future investments in the contry.
Venezuela, under US sanctions since 2019, holds about a fifth of the world’s oil reserves and was once a major supplier of crude oil to the United States. Trump sees the country’s vast oil reserves as an prospect to further lower fuel prices in America but may encounter significant difficulties in convincing major oil companies to invest in the country due to uncertainty about governance in the post-Maduro era, security concerns, and the considerable costs required to restore production facilities.The representatives of big oil gathered at the White House were assured by the American president that there would be security guarantees, albeit without American boots on the ground.
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“You now have total security in Venezuela,” he declared. this issue of guarantees was crucial for many of the managers present. The head of Exxon Mobil, Darren Woods, stated this clearly. “It is absolutely essential to establish a technical team to assess the current state of the industry,” he said during the meeting with the tycoon, Vice President Jd Vance, Secretary of State Marco rubio, and sector ministers. “We are ready to send a team to the field,” he added, but stressed that “significant changes” are needed in Venezuela. “Our assets have been seized twice in this country, so you can imagine that a third time would require rather significant changes,” he stated. Descalzi expressed his willingness to invest and collaborate with Washington. “eni is ready to invest in Venezuela. We have 500 people in the country. we are ready to invest in the country and work with American companies,” he said. Trump than explained to the oil giants that they will deal directly with Washington and not with Caracas,and that the United States will decide which companies will work in Venezuela.
“We are taking back what was stolen from us,” the American president added, claiming that big oil will invest “at least $100 billion” in the country. The tycoon also sent a message to Cuba, China, and Russia. Havana “is going down the drain, they are a third-world country, they have nothing, they must make a choice,” he attacked. As for Beijing and Moscow, “they can buy oil from us. We are ready to do business.”
Copyright ANSA
