Why are the U.S Oil Majors interested in Venezuela?

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Why are U.S oil Companies so interested? , Well for starters The proven oil reserves in Venezuela are recognized as the largest in the world, totaling 297 billion barrels as of 1 January 2014. In early 2011, then-president Hugo Chávez and the Venezuelan government announced that the nation’s oil reserves had surpassed that of the previous long-term world leader, Saudi Arabia.

What are the Oil Majors?
In the maritime industry, a group of six companies that control the chartering of the majority of oil tankers worldwide are together referred to as “Oil Majors”. These are: Royal Dutch Shell, BP, Exxon Mobil, Chevron Texaco, Total Fina Elf, and ConocoPhillips.

How the opposition leader got U.S support?
The self-proclaimed President, Venezuela’s opposition leader is rolling out the welcome mat to foreign investors who want a piece of the world’s largest oil reserves. Juan Guaido the Venezuelan opposition leader has been called a traitor in some parts of his own country, but not in Washington.

“We need to open up the oil industry to private investment without the participation of the national oil company,” Ricardo Hausmann told the conference. those words are the sound of money for U.S Oil majors and thus music to The American government’s ears.

With so much oil in Venezuela, it’s no wonder the U.S is so interested in seeing a regime change. Secretary of State Mike Pompeo tweeted about pulling American diplomats out of Venezuela, as it seeks the ouster of the elected South American nation’s leader.

Also this week – U.S. Secretary of State Mike Pompeo urged the oil industry on Tuesday to work with the Trump administration to promote U.S. foreign policy interests – read more

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