"The upcoming meetings will be crucial to the administration's hopes to boost crude oil production and exports from Venezuela, a former OPEC nation that sits atop the world's largest reserves, and whose crude oil can be refined by specially designed US refineries. Achieving that goal will require years of work and billions of dollars of investment, analysts say. It is unclear what executives will be attending the upcoming meetings, and whether oil companies will be attending individually or collectively."
"The three biggest US oil companies Exxon Mobil, ConocoPhillips and Chevron have not yet had any conversations with the Trump administration about Maduro's ouster, according to four oil industry executives familiar with the matter, contradicting Trump's statements over the weekend that he had already held meetings with all the US oil companies, both before and since Maduro was abducted."
The Trump administration plans to meet with US oil executives later this week to discuss boosting Venezuelan oil production after US forces abducted Nicolas Maduro. The meetings aim to encourage major US firms to return after Venezuela nationalized US-led energy operations nearly two decades ago. Exxon Mobil, ConocoPhillips and Chevron have not yet had conversations with the administration about operating in Venezuela, contradicting presidential statements that such meetings already occurred. Boosting Venezuelan output will require years of work and billions of dollars in investment. It is unclear which executives will attend or whether companies will meet individually or collectively. The White House said the US oil industry is ready to invest.
Read at www.aljazeera.com
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