United States Starts Selling Venezuelan Oil

JAKARTA - The United States has completed the first sale of Venezuelan oil worth 500 million US dollars (about Rp8.45 trillion).

US government officials spoke to CNN saying further oil sales were expected in the coming days and weeks.

Earlier this month, US President Donald Trump said his party intended to access Venezuela's oil reserves, the largest in the world, after the Latin American country's coup and the arrest of President Nicolas Maduro.

Although it is unclear where the figure came from, Trump on January 9 said the oil industry would contribute at least 100 billion US dollars (around Rp1,690 trillion) to repair Venezuela's damaged energy sector.

He also noted that the US would export 30 to 50 million barrels of Venezuelan oil in cooperation with US companies.

Earlier on Friday (9/1), US energy executives attending a meeting at the White House questioned the administration's plan to tap Venezuela's oil.

"It's not worth investing in," ExxonMobil CEO Darren Woods said in a tone that warned officials when discussing the challenges of doing business in Venezuela.

"There are a number of legal and commercial frameworks that must first be built just to understand the potential return on investment," he continued.

Meanwhile, details regarding the first oil sale are still unclear until Wednesday (14/1).

White House spokesman Taylor Rogers said in a statement, as quoted by CNN, that President Trump's team had facilitated discussions with oil companies regarding the restoration of oil infrastructure in Venezuela.

"President Trump's team facilitated a positive and ongoing discussion with oil companies that are ready and willing to make unprecedented large investments to restore Venezuela's oil infrastructure," Rogers said, quoted by ANTARA from Anadolu.