Trump urges U.S. oil firms to accelerate work in Venezuela

President Trump on Friday pressed American energy executives at the White House to rapidly tap Venezuela’s oil reserves, speaking hours after U.S. forces intercepted another tanker carrying Venezuelan oil in the Caribbean Sea. The administration has sought to control Venezuela’s oil exports, and the tanker — the Olina — was the fifth vessel boarded or seized by U.S.

forces in the past month, the New York Times reported. Mr. Trump told executives he did not expect more U.S. attacks after American commandos captured Nicolás Maduro in a raid last weekend, praised Venezuela’s interim leaders and said U.S. warships would remain off the Venezuelan coast.

Mr. Trump said U.S. oil companies would “rapidly rebuild Venezuela’s dilapidated oil industry” and that they would invest at least $100 billion, according to the Times. But several executives expressed caution: Exxon Mobil’s chief executive, Darren Woods, described Venezuela as “uninvestable” today and said Exxon would need significant changes and security guarantees to re-enter, and others signaled they might seek federal financial guarantees before committing funds.

U.S. Southern Command said Marines and sailors working with the Coast Guard boarded the Olina after launching from the aircraft carrier Gerald R.

Key Topics

World, Donald Trump, Venezuela, Olina Tanker, Nicolás Maduro, Exxon Mobil