What happened: Former US President Donald Trump has sought $100 billion to invest in Venezuela's oil sector. However, ExxonMobil's CEO described Venezuela as 'uninvestable' due to past asset seizures.
Why it matters:
- The request highlights ongoing interest in Venezuela's oil despite political and economic risks.
- Oil companies and investors face uncertainty due to Venezuela's history of nationalising foreign assets.
MNN Take: While Venezuela's oil reserves are substantial, political instability and previous asset confiscations make investment risky, causing hesitation among major oil firms.
Sources: BBC Business