International oil companies set demands to return to Venezuela
With the announcement by the Donald Trump administration to revitalize Venezuela's oil industry to meet its crude oil supply aspirations, international oil companies are demanding guarantees to return to the South American country
Donald Trump, President of the United States, is advancing his plans to maximize commercial profits from Venezuelan oil, calling on international oil companies to return to the South American nation.
These companies, however, have requested guarantees to return to the Venezuelan oil industry, given the multimillion-dollar investment required in infrastructure and refining processes necessary for crude oil treatment.
One of the main demands of the international oil companies is political stability, stating that in the face of any risk, such as asset expropriation, the companies require guarantees from the United States.
Another demand, which goes hand in hand with US guarantees, is the fulfillment of Trump’s promises to “help them bring in equipment and personnel, export oil and gas, and generate revenue. Furthermore, they must have the assurance that this support will continue through future administrations and changes in Congress.”
They have also demanded improvements in tax conditions, financial mechanisms for paying outstanding debts, and access to talent in the face of the exodus of skilled personnel in recent years.
M.Pino
Source: elperiodicodelaenergia
(Reference image source: Maria Lupan on Unsplash)
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