Trump says U.S. oil companies will invest billions in Venezuela
CNBC••general
Key Points:
- President Donald Trump emphasized that U.S. investment in Venezuela's oil sector is a key goal following the ousting of President Nicolas Maduro, with plans for major U.S. oil companies to rebuild the country's oil infrastructure.
- Venezuela holds the world's largest proven oil reserves, but its oil production has declined from 3.5 million barrels per day in the late 1990s to around 800,000 barrels per day currently.
- U.S. forces captured Maduro and his wife during the operation, and Trump stated the U.S. will temporarily manage Venezuela with a group until a safe transition is possible, while maintaining the existing oil embargo.
- Chevron remains the only major U.S. oil company operating in Venezuela and continues to comply with laws,
