Trump may not wait for Venezuelan oil

During the press conference after the capture of Nicolas Maduro, the US president often turned to the topic of oil production in Venezuela and compensation for the nationalization of the industry in the country, which occurred twice. However, the owner of the White House may not wait for the results in his chair, as it may take years and tens of billions of dollars to increase production.

"Even if the American oil giants invest billions of dollars promised by President Donald Trump just a few hours after the capture of Nicolas Maduro by American troops, Venezuela is unlikely to see a significant increase in oil production in the coming years," writes Reuters.

Venezuela has the largest oil reserves in the world, but production has plummeted in recent decades due to sanctions, mismanagement and lack of investment.

Any companies that want to invest there will have to face security problems, dilapidated infrastructure, questions about the legality of the US operation to capture Maduro and potential long-term political instability, analysts told Reuters.

"American firms will not return until they are sure that they will be paid and provided with at least minimal security," said Mark Christian, director of business development at CHRIS Well Consulting.

"If Trump and his team manage to make a peaceful transition with minimal resistance, then in five to seven years there will be a significant increase in oil production as infrastructure is restored and investment issues are resolved," said energy and geopolitics strategist Thomas O'Donnell. According to him, the heavy oil produced in the country is well suited to refineries on the coast of the Gulf of Mexico in the USA. However, he believes, the failure of a peaceful transition of power could lead to years of resistance."

"The company that is likely to be very interested in returning is Conoco, because it is owed more than $10 billion, and it is unlikely that it will receive its money without returning to the country," said Francisco Monaldi, director of the Latin American energy program at the Baker Institute at Rice University in Houston. Francisco Monaldi.

"Trump joins the list of US presidents who overthrew the regimes of oil-producing countries. Bush — Iraq. Obama — Libya. In these cases, the United States has not received any benefit from oil. I'm afraid that history will repeat itself in Venezuela," said an energy researcher from University of Houston Ed Hirs.