Washington: The U.S. leader is planning to seize Venezuela's oil industry, while U.S. oil companies demand government guarantees before investing. Venezuela's acting president, however, is ready to partner with foreign countries in the oil sector.

According to Thai News Agency, President Donald Trump and his advisors are considering a plan to take over Venezuela's oil industry within the coming years. The strategy involves acquiring control of PDVSA, the state-owned oil company, through joint ventures akin to previous collaborations with U.S. oil companies. This approach aims to facilitate the purchase and distribution of Venezuelan oil. On the same day, PDVSA announced progress in negotiations with the U.S., agreeing to sell oil at international prices. This development followed the U.S. government's announcement of a deal with Venezuela, allowing up to $2 billion worth of Venezuelan crude oil purchases.

The Financial Times reported that executives from major U.S. oil companies are demanding firm government guarantees before investing heavily in Venezuela. This involves securing legal and financial assurances from President Trump, which they regard as essential for committing to significant investments in the country. Recent pressure from White House and State Department officials on oil companies aims to accelerate large-scale investments in Venezuela's oil industry. This is seen as a move to seek compensation for assets previously seized by the Venezuelan government two decades ago.

Venezuelan interim president Delcy Rodriguez, during a meeting with parliament members, expressed Venezuela's readiness to become an energy partner with foreign nations. Rodriguez highlighted Venezuela's vast oil and gas reserves, asserting the country's willingness to establish respectful relationships through commercial agreements in compliance with international law.