Trump Pledges Billions to Venezuela as US Oil Giants Remain Quiet
President Donald Trump addressed the nation regarding the U.S. capture of Venezuelan President Nicolás Maduro and his wife.
American energy firms are currently weighing their options on whether to return to Venezuela to revitalize an oil industry that has suffered from years of neglect.
Chevron, the only major U.S. energy company still operating in Venezuela, stated to Fox News Digital that it is adhering to “relevant laws and regulations.” A spokesperson for Chevron emphasized, “Chevron remains focused on the safety and well-being of our employees, as well as the integrity of our assets.”
ExxonMobil, the largest U.S. oil company, has not yet responded to inquiries, nor has ConocoPhillips.
‘WE BUILT VENEZUELA’S OIL INDUSTRY:’ TRUMP VOWS US ENERGY RETURN AFTER MADURO CAPTURE
An exterior view of a Venezuelan state-run oil refinery. (Jesus Vargas / Getty Images)
President Donald Trump announced at Mar-a-Lago that the U.S. intends to sell substantial quantities of Venezuelan oil to other nations following an increase in production.
Venezuela possesses the world’s largest oil reserves; however, years of underinvestment and deteriorating infrastructure have left much of this wealth untapped. Trump asserted that U.S. energy companies could return to the country to unlock this potential.
“We are going to have our very large United States oil companies go in, spend billions of dollars, fix the badly broken oil infrastructure and start making money for the country,” he stated.
US CAPTURE OF MADURO THROWS SPOTLIGHT ON VENEZUELA’S MASSIVE OIL RESERVES
When asked by Fox News’ Lucas Tomlinson about the future of Venezuela’s oil sector and its current buyers—China, Russia, and Iran—Trump reiterated that the United States would sell large amounts of oil to various countries.
“We’re in the oil business,” Trump remarked, adding that the U.S. “built Venezuela’s oil industry with American talent, drive, and skill,” which was later taken over by the country’s socialist government.
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President Donald Trump addresses the nation following the U.S. operation to capture Venezuelan President Nicolás Maduro. (Jim Watson/AFP / Getty Images)
“Venezuela unilaterally seized and sold American oil, American assets, and American platforms, costing us billions and billions of dollars,” Trump stated. “They took all of our property.”
The nationalization campaign initiated by former President Hugo Chávez expelled Western oil companies, marking the end of a significant era of U.S. energy investment in the country.
In the meantime, Trump reiterated that the U.S. embargo on all Venezuelan oil remains firmly in place.
President Donald Trump addressed the nation regarding the U.S. capture of Venezuelan President Nicolás Maduro and his wife.
American energy firms are currently weighing their options on whether to return to Venezuela to revitalize an oil industry that has suffered from years of neglect.
Chevron, the only major U.S. energy company still operating in Venezuela, stated to Fox News Digital that it is adhering to “relevant laws and regulations.” A spokesperson for Chevron emphasized, “Chevron remains focused on the safety and well-being of our employees, as well as the integrity of our assets.”
ExxonMobil, the largest U.S. oil company, has not yet responded to inquiries, nor has ConocoPhillips.
‘WE BUILT VENEZUELA’S OIL INDUSTRY:’ TRUMP VOWS US ENERGY RETURN AFTER MADURO CAPTURE
An exterior view of a Venezuelan state-run oil refinery. (Jesus Vargas / Getty Images)
President Donald Trump announced at Mar-a-Lago that the U.S. intends to sell substantial quantities of Venezuelan oil to other nations following an increase in production.
Venezuela possesses the world’s largest oil reserves; however, years of underinvestment and deteriorating infrastructure have left much of this wealth untapped. Trump asserted that U.S. energy companies could return to the country to unlock this potential.
“We are going to have our very large United States oil companies go in, spend billions of dollars, fix the badly broken oil infrastructure and start making money for the country,” he stated.
US CAPTURE OF MADURO THROWS SPOTLIGHT ON VENEZUELA’S MASSIVE OIL RESERVES
When asked by Fox News’ Lucas Tomlinson about the future of Venezuela’s oil sector and its current buyers—China, Russia, and Iran—Trump reiterated that the United States would sell large amounts of oil to various countries.
“We’re in the oil business,” Trump remarked, adding that the U.S. “built Venezuela’s oil industry with American talent, drive, and skill,” which was later taken over by the country’s socialist government.
CLICK HERE TO GET FOX BUSINESS ON THE GO
President Donald Trump addresses the nation following the U.S. operation to capture Venezuelan President Nicolás Maduro. (Jim Watson/AFP / Getty Images)
“Venezuela unilaterally seized and sold American oil, American assets, and American platforms, costing us billions and billions of dollars,” Trump stated. “They took all of our property.”
The nationalization campaign initiated by former President Hugo Chávez expelled Western oil companies, marking the end of a significant era of U.S. energy investment in the country.
In the meantime, Trump reiterated that the U.S. embargo on all Venezuelan oil remains firmly in place.
