Petroleum, petroleum, petroleum – one of Venezuela's "dangerous black gold": Could the United States possibly seize Venezuela's oil assets? What role have U.S. oil companies played in Venezuela?
At a press conference following Maduro's downfall, Trump said that U.S. government aid to Venezuela would include sending U.S. oil companies to the country. "We will send our large U.S. oil companies – the world's largest oil companies – into Venezuela, investing billions of dollars to repair severely damaged infrastructure... and start generating profits for this country," Trump said.
The U.S. president emphasized that his decision to overthrow Maduro stemmed from his belief that the Venezuelan leader had "stolen" U.S. investments in the country's energy sector.
"We built Venezuela's oil industry with the talent, drive, and skills of Americans, and this socialist regime stole it by force during previous governments. This constitutes one of the largest cases of property theft in American history," Trump said.
Previously, U.S. officials had consistently stated that their military operations in the Caribbean were aimed at combating drug trafficking in the region. The government said that seizing sanctioned oil tankers and penalizing oil transporters could cut off the revenue sources funding drug cartels.
What role have U.S. oil companies played in Venezuela?
A century ago, U.S. oil companies were the main builders of Venezuela's oil industry, making Venezuela a major oil supplier to the United States. In 1960, Venezuela became one of the founding members of OPEC.
In the mid-1970s, Venezuela's oil industry was nationalized and then opened to foreign investment again in the 1990s. Hugo Chávez, a highly influential predecessor of Maduro, seized the main U.S. oil projects in Venezuela in 2007. ExxonMobil and Chevron withdrew from Venezuela and later won a significant compensation in international arbitration.
Chevron is the only U.S. oil company that remained in Venezuela. The Houston-based company currently holds a restricted license issued by the U.S. Treasury and has four joint ventures with the state-owned Petróleos de Venezuela SA. Chevron's oil production accounts for about a quarter of Venezuela's total output.
As the U.S. military operations unfold, Chevron stated, "We always prioritize the safety and well-being of our employees and the integrity of our assets," and will continue to "fully comply with all relevant laws and regulations."
Sources: Bloomberg
U.S. forces capture the President of Venezuela
Original: toutiao.com/article/1853341494926352/
Statement: The article represents the views of the author alone.