Foreign affairs expert Robinder Sachdev claimed the US plans to control Venezuela and sell its oil globally while pushing American and European companies to invest in its energy sector.
Venezuela Energy Sector Trump Pressures US Oil Companies (Soufrce: X/ ANI)
Foreign affairs expert Robinder Sachdev has said that the United States wants to control Venezuela and use its vast oil resources for global profit. He claimed Washington is pushing American and European companies to invest in Venezuela’s oil sector so the US can manage the country’s energy supply.
Speaking to ANI, Sachdev said the US plan is clear. "What the US is saying is something very obvious. America will be willing to sell Venezuelan oil to anyone in the market. That's what America is talking. America plans to make Venezuela a colony run by remote control Viceroy Marco Rubio and investments in the oil industry by American oil companies, European oil companies. Many of them are not actually very eager because they see that there's a lot of infrastructure investment to be done and they don't see maybe they will get the returns but Trump is pushing them," he said.
He added that many global oil firms are hesitant because Venezuela’s oil sector is in poor condition and needs massive investment.
Sachdev said India could gain if Venezuelan oil becomes available at the right price. He explained that India has some of the few refineries in the world that can handle Venezuela’s heavy crude oil.
"And at the same time the Venezuelan government obeys what the Trump dictatorship says. Thereafter, Venezuelan oil is available for everyone. For India, yes, I think definitely yes because one of the things is that the Venezuelan oil is heavy crude. Okay, and our refineries are amongst the few in the world, especially Jamnagar Reliance, are among the few in the world which can process that kind of crude oil and the heavy crude brings you gasoline, petrol, then diesel, then nafta, then heating oil. So there are multiple derivatives of that which is there. So definitely yes, I think Indian public sector or private sector will be happy to buy if the price is right," he said.
He highlighted that Reliance’s Jamnagar refinery is specially equipped to process heavy crude, making Venezuelan oil highly useful for India.
Sachdev said Donald Trump is personally pushing US energy companies to invest in Venezuela. "Trump has mandated the Energy Secretary and the Interior Secretary, Doug Berman and here the Energy Secretary to network, to convince with the oil industry executives, to persuade them to invest in Venezuela. That's one strategy which Trump is adopting to get as many oil executives as possible on the table and then to discuss with them to invest," he said.
He explained that the oil industry is mainly driven by profits, not politics. "Many of them are reluctant, but America will show them a path of stability so that they don't have much risk and that they invest and he will show them how much the profits they will make because bottom line oil industry is driven by shareholder dividends," he added.
Sachdev said reviving Venezuela’s oil production will require huge money. "They are not driven by democratic or geopolitical dividends. So that is the trade-off. And the amount needed is going to be huge. It's anywhere in the region of USD 60 billion, till about USD 200 billion to revive and, of course, to increase the pumping capacity of crude from Venezuela," he said.
This means investors will only step in if they are sure they will make strong profits.
Sachdev noted that Trump recently met top oil and gas executives at the White House to push investment in Venezuela’s energy sector. Trump told them that investing there would be highly profitable and that "a lot of money is going to be made" from Venezuelan oil
