According to information disclosed on January 3 (local time), the White House has asked major U.S. oil companies to make substantial investments in Venezuela to restore the country’s crude oil extraction infrastructure. It is reported that officials have told executives of U.S. oil companies in recent weeks that if they “wish to receive compensation for drilling rigs, pipelines, and other assets confiscated by the Venezuelan government, they must be prepared to return to Venezuela now and invest heavily to revitalize its battered oil industry.” Industry insiders are taking a cautious stance toward this government demand, as they are concerned about the uncertain prospects for rebuilding Venezuela’s dilapidated oil fields, as well as the political instability in the country in the foreseeable future. (CCTV News)