""very rapidly rebuild [its] dilapidated oil industry""
""Today, it's uninvestable,""
""Significant changes have to be made to those commercial frameworks, the legal system. There has to be durable investment protections.""
""We've had our assets seized there twice... So, you can imagine to reenter a third time would require some pretty significant changes from what we've historically seen here and what is currently the state.""
President Donald Trump indicated that American and some European oil companies would be asked to invest at least $100 billion to rebuild Venezuela's dilapidated oil industry and generate substantial wealth. Top oil executives cautioned that Venezuela is currently uninvestable and that significant legal, commercial, and security reforms plus durable investment protections are necessary before long-term commitments. Exxon said a technical team could assess conditions quickly but noted prior expropriations, including in 2007, which make reentry contingent on major changes. The 2007 expropriations have been cited by the administration in actions against Nicolás Maduro.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]