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U.S. President Donald Trump hosted top executives from major global oil companies at the White House on Friday to talk about Venezuela, saying he wants them to pour $100 billion into the country to massively boost output, Reuters reported.
After U.S. troops carried out a nighttime raid in Caracas on January 3 that resulted in the capture of Nicolás Maduro, Trump shifted his Venezuela strategy to focus primarily on oil, the report stated.
Here’s what Trump said
"American companies will have the opportunity to rebuild Venezuela's rotting energy infrastructure and eventually increase oil production to levels never, ever seen before," Trump said at the opening of the meeting, Reuters reported.
He was flanked by top executives from Exxon Mobil, ConocoPhillips, Chevron Corp and others.
"We're going to be making the decision as to which oil companies are going to go in," the Republican president said. He praised an agreement with Venezuela's interim leaders to provide 50 million barrels of crude oil to the U.S., where numerous refineries are specially equipped to refine it. Trump said he expects such deliveries to continue indefinitely.
"One of the things the United States gets out of this will be even lower energy prices," he said.
(This is a developing story; check later for updates)
(With inputs from Reuters)
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