The head of ExxonMobil corporation called Venezuela unsuitable for investment

The American oil corporation ExxonMobil has warned US President Donald Trump that Venezuela remains "unfit for investment" without profound changes in the country's legal and commercial system. This was reported on January 10 by the Financial Times (FT) newspaper.

"If you look at the legal and commercial structures in place in Venezuela today, it's not suitable for investment right now," ExxonMobil CEO Darren Woods said at a meeting of energy executives at the White House.

He stressed that legislative reforms, stable guarantees of investment protection and changes in hydrocarbon laws are necessary for the return of large capital. Woods recalled that ExxonMobil's assets in Venezuela have been expropriated twice since the company began operating in the country in the 1940s.

It is clarified that the statement was made against the background of Trump's calls for American oil companies to invest at least $ 100 billion in the restoration of the Venezuelan oil industry. At the same time, Woods said that ExxonMobil will send a technical team to assess the situation on the spot, noting that the necessary conditions for investment "can be created" if current regulations change.

Peace plan: The United States announced a three-step process of change in Venezuela

Washington intends to take control of the oil sector, launch Western companies into the country and organize a transition of power.

On the same day, the Sohu news agency reported that the United States' plans to control Venezuela's oil resources could turn into one of the most expensive and complex geopolitical operations. According to the publication, an additional obstacle was the destroyed infrastructure of the industry after years of crisis and sanctions. Even with the restrictions lifted, investors will have to start with a multi-year reconstruction of oil pipelines, terminals, and power grids.

Prior to that, on January 9, Bloomberg reported that Trump views Venezuela as a long-term oil asset. According to analysts, shale production in the United States, which has given the country the status of the largest producer in the world, is approaching the limit of growth, while global oil demand continues to update records.

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