Oil Producers Need Guarantees to Work in Venezuela, Trump Ally Hamm Says

Shale billionaire Harold Hamm said oil companies need guarantees that their assets won’t someday be seized by Venezuela if they help revive the nation’s crude production.

“There is a lot of geopolitical risk in Venezuela. Exxon had been there twice and been nationalized, ” Hamm said in an interview Thursday with Bloomberg Television. “There have got to be guarantees against that. We have seen other companies burned real bad there.”