The Trump administration did not consult with oil companies Exxon Mobil, ConocoPhillips, or Chevron Corp about Venezuela before or after U.S. forces captured the South American country’s president Nicolas Maduro Jan. 3, according to four oil industry executives familiar with the matter.
That contradicts President Donald Trump’s assertion aboard Air Force One on Sunday that he had spoken to all of the U.S. oil companies “before and after” Maduro’s capture about his plans for investing in the country.
“Nobody in those three companies has had conversations with the White House about operating in Venezuela, pre-removal or post-removal to this point,” one of the sources said.
The three other sources also said the three companies had no prior knowledge about the U.S. operation to seize Maduro, and had held no conversations with the Trump administration about investing there as of Sunday.
The sources asked not to be named due to the sensitivity of the matter.
The White House did not immediately respond to a request for comment.
Exxon, Chevron and ConocoPhillips didn’t immediately respond to requests for comment.
Chevron is the only American major currently operating in Venezuela’s oil fields that produce heavy crude used by U.S. Gulf Coast and other refineries.
Exxon and ConocoPhillips, meanwhile, had storied histories in the country after their projects were nationalized nearly two decades ago by former President Hugo Chavez.
Trump said hours after Maduro’s capture on Saturday that he expects the biggest U.S. oil companies to spend billions of dollars boosting Venezuela’s oil production.
But those plans will be hindered by lack of infrastructure that will require many years and heavy investment, along with deep uncertainty over the country’s political future, legal framework and long-term U.S. policy, the executive said.
“I don’t think you’re going to see any company other than Chevron, who’s already there, you know, commit to developing this resource,” said one of the executives.
Conoco has been seeking billions of dollars in restitution for the takeover of three oil projects in Venezuela under Chavez. Exxon was involved in lengthy arbitration cases against Venezuela after it exited the country in 2007.
Chevron, which exports around 150,000 bpd of crude from Venezuela to the U.S. Gulf Coast, meanwhile, has had to carefully maneuver with the Trump administration in an effort to maintain its presence in the country in recent years.
(Reporting by Jarrett Renshaw and Sheila Dang; Writing by Richard Valdmanis; Editing by Chizu Nomiyama and Anna Driver)