Realizing U.S. President Donald Trump¡¯s plan to lead a revival of Venezuela¡¯s beleaguered oil industry could be a yearslong and challenging process costing upwards of $100 billion.
Years of corruption, underinvestment, fires and thefts have left the nation¡¯s crude infrastructure in tatters. Rebuilding it enough to lift Venezuela¡¯s output back to its peak levels of the 1970s would require companies that could include Chevron, Exxon Mobil and ConocoPhillips to invest about $10 billion per year over the next decade, said Francisco Monaldi, director of Latin American energy policy at Rice University¡¯s Baker Institute for Public Policy.
¡°A faster recovery would require even more investment,¡± Monaldi said.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.