The White House said on the 7th (local time) that U.S. President Donald Trump will meet with executives of major U.S. oil companies on the 9th. Discussions related to investment in Venezuela's oil infrastructure appear set to move into full swing.
In an interview with NBC on the 5th, President Trump offered a blueprint for Venezuela's oil business, saying, "If U.S. oil companies receive subsidies, they can expand operations in Venezuela within 18 months."
Trump added, "I think it's possible in an even shorter time, but it will require massive funds," explaining, "A tremendous amount of money needs to be put in. After oil companies make the expenditure, our government will make them whole or allow them to be compensated through revenue."
The plan to rebuild Venezuela's oil infrastructure is expected to continue for the next 10 years. The expense is projected to total $100 billion (144.85 trillion won).
Chevron is currently the only oil company operating in Venezuela. Exxon Mobil and ConocoPhillips were also cited as major producers, but they left Venezuela 20 years ago after their plants and facilities were nationalized.