Trump tells NBC U.S. may reimburse firms for Venezuela oil efforts

President Donald Trump suggested the US may subsidize efforts by energy companies to rebuild Venezuela’s oil industry as his administration seeks to convince firms to invest in the country days after ousting strongman Nicolás Maduro.

Trump said the project to have US oil industry companies expand their operations in the country could be “up and running” in less than 18 months, in an interview Monday with NBC News — a timeframe starkly at odds with estimates from energy industry experts, while oil companies have been largely silent about their willingness to reinvest in Venezuela.

“I think we can do it in less time than that, but it’ll be a lot of money,” Trump told NBC. “A tremendous amount of money will have to be spent and the oil companies will spend it, and then they’ll get reimbursed by us or through revenue.”

The comments underscore the administration’s view that Venezuela’s vast oil reserves are central to both its recovery and US strategic interests. Yet Trump has offered few specifics on how production would be restored or who would control revenues in the interim. 

Asked if he had spoken to top executives at Exxon Mobil Corp., Chevron Corp. and...