President Trump urged the country’s top oil magnates on Friday to feel comfortable investing in new oil production projects in Venezuela as a deal with Caracas is around the corner, promising they would be safe.
“We’re going to discuss how these great American companies can help rapidly rebuild Venezuela’s dilapidated oil industry and bring millions of barrels of oil production to benefit the United States, the people of Venezuela and the entire world,” Trump said with nearly two dozen top oil executives at the White House.
Trump has said that what’s left of Venezuelan dictator Nicolas Maduro’s regime is willing to work out a deal with the United States for Washington to oversee its oil sales — after he ordered Maduro arrested in a raid on Saturday.
Confident a deal will be reached, Trump called on American oil companies to invest in Venezuela’s oil market — should a deal be reached with Caracas — encouraging them to “rip out the old crap” and build new drilling infrastructure.
“I hope you’re going to build all brand new stuff, rip out the old crap that’s been there for so many years and do it the right way,” he said. “If we make a deal, you’re going to be there a long time.
“If we don’t make a deal, you won’t be there at all,” he added, indicating he would not support US investment in Venezuela if Caracas doesn’t play ball.
