American energy groups are demanding clear legal and financial guarantees from the administration of Donald Trump before investing in Venezuela’s oil sector, reports Financial Times.
Source: “Espreso”
The reason for caution is the high political and legal risks in the country, as well as the unpredictable policy of the U.S., where even a single tweet can change the foreign policy course.
On Wednesday, talks took place in Miami between U.S. officials and executives of leading oil companies. Trump also convened some energy leaders for a meeting at the White House on January 9.
The companies insist on guarantees to protect their investments, citing political instability, legal uncertainties, and low global oil prices.
Earlier, Trump promised that American companies could receive compensation from the government or through revenues if they invested capital in Venezuela, but this has not yet convinced businesses to make large investments.