Trump says oil companies will spend $100 billion in Venezuela with U.S. protection [MSNBC.com]
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Source: MSNBC.com
Working with ChevronThe Trump administration has provided few details on how it will encourage oil companies to make large investments in a country with history of nationalizing industry assets.Chevron is the only U.S. oil company currently operating in Venezuela through a joint venture with state oil company Petróleos de Venezuela (PDVSA). Secretary Chris Wright told CNBC Wednesday that the U.S. is working closely with Chevron."Chevron is on the ground so we're getting daily updates," Wright told CNBC. "They're actually working [under] this regime. So with them, how can we provide incremental tweaks or changes to allow their model to grow even more," the energy secretary said.Venezuelan production could grow by several hundred thousand barrels per day in the short- to medium term with small capital deployments, Wright said.Exxon, Conoco doubtsBut Exxon and Conoco will need reassurances to return to Venezuela, Wright said. The companies exited the country after former President Hugo
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- Trump Pushes Venezuela Oil Investment as Political Risks Loom [Yahoo! Finance]Yahoo! Finance
- Trading houses beat US majors to first deals for Venezuelan oil [Yahoo! Finance]Yahoo! Finance
- Trading houses beat US majors to first deals for Venezuelan oil [Yahoo! Finance Canada]Yahoo! Finance Canada
- Chevron Corporation's (NYSE:CVX) Stock On An Uptrend: Could Fundamentals Be Driving The Momentum? [Yahoo! Finance]Yahoo! Finance
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