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Trump Reportedly Plans to Control Venezuelan Oil Sector, State-owned Oil Firm
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US President Donald Trump and his advisors are planning actions aimed at dominating the Venezuelan oil industry in the coming years, the Wall Street Journal (WSJ) quoted sources as saying. Trump also informed his aides that he believes this move will help lower oil prices to US$50 per barrel. He is considering plans that include partial control over Venezuela's state-owned oil company, PDVSA, by the US, according to the sources. The US is seeking to gain control of PDVSA through agreements, which will involve acquiring and possibly distributing the Company's oil, including operations through past and existing joint ventures with oil giants like Chevron (CVX.US). PDVSA previously stated that it is negotiating oil sales with the US, with its board member indicating that the US must purchase oil at international prices. AASTOCKS Financial News Website: www.aastocks.com |
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