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Protests Enter 13th Day as Government Cuts Internet; Footage Shows Protesters Blocking Roads and Setting Fires; Oregon to Investigate Border Patrol Shooting in Portland; New Details About I.C.E. Agent Who Killed Woman in Minneapolis; Ukraine Hit with Hypersonic Missile in Overnight Strikes. Aired 9-9:45a ET
Aired January 09, 2026 - 09:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
[09:00:00]
(COMMERCIAL BREAK)
ELENI GIOKOS, CNN HOST, CONNECT THE WORLD: The memorial on the ground and the street where Renee Good was shot by an I.C.E. agent. We have the latest
on the progress of that investigation. It is 08:00 a.m. in Minneapolis. It is 06:00 p.m. here in Abu Dhabi. I'm Eleni Giokos. This is "Connect the
World".
Also coming up as protests spread across Iran. The supreme leader tells the U.S. President to focus on his own country. And Russia strikes Ukraine with
one of its most advanced weapons. That's all coming up. I want to quickly check in on the market futures.
We're around 30 minutes to go before the start of trade in New York, and the non-farm payroll numbers have been released for the month of December.
And they are showing that the U.S. economy saw 50,000 jobs added in December, but importantly, that was lower than anticipated, after a
downwardly revised number of 54,000 for the month of November.
And unemployment in the United States currently at 4.4 percent. The S&P, the DOW, as well as the NASDAQ, all pointing to a higher open. We'll check
in on those numbers a little later today. All right, I want to begin in Iran, where protests have spread like wildfire.
And we're seeing video of new rallies emerging today despite an internet blackout. And Southeastern Iran crowds marching through the streets can be
heard chanting, Death to the dictator. It comes on the hills of fierce demonstrations on Thursday. Protesters blocking roads and setting fires.
Tehran's Mayor says they're targeting banks, hospitals, masks and dozens of emergency vehicles. Authorities trying to end the protests now in their
13th day by shutting down communications. And his first comments since the unrest began, Iran Supreme Leader said agitators were to blame.
And he also called on U.S. President Donald Trump, who vowed to protect peaceful protesters to stay out of internal affairs. All of this starting
with anger over Iran's economic crisis. Nada Bashir is watching developments from London for us, and she joins us now live.
Nada, good to see you. And we saw these demonstrations erupting because of hyperinflation and the cost of living that is now morphed into anti regime
protests. So, tell me what the latest is here and whether we're going to see a further escalation?
NADA BASHIR, CNN CORRESPONDENT: That's absolutely right, Eleni. We have heard, of course, from many of those protesters chanting slogans such as
death to the dictator. We've been hearing from many protesters on the ground in videos shared on social media and verified by CNN.
This shift from the focus, which began in late December, Iran, as you mentioned, hyperinflation, a plummeting Iranian currency, and everyday
items, including food, including essential medicine, becoming simply unaffordable for so many in Iran and that was really what the catalyst for
this protest movement.
But as you mentioned, it has gained momentum. It has grown and evolved into this broader anti regime protest movement, which has gripped over 100
cities across the country, touching every province of Iran. And we have been seeing these protests gain in number. And of course, we have seen a
presence on the ground by Iranian security forces.
But it has to be said, we haven't seen the full force of the Iranian regimes crack down.
[09:05:00]
And we have seen in previous cases of these nationwide protests, we certainly have seen fatalities already. We've heard from the Iran watch
Human Rights Organization and Norway, based NGO, which has reported at least 45 people killed, including at least 8 children.
They say hundreds more have been injured, and around 2000 are believed to have been detained. But at this stage, of course, there hasn't been that
full force that we have seen in previous cases, that death toll, however, there are fears could rise if we do see an intensified crackdown.
Now this all comes, as we've seen as of yesterday evening, a total internet and communications block out being implemented in Iran. Of course, this
serves multiple purposes. It makes it very difficult for protesters to organize. It makes it near possible for video and evidence to be shared
online of what is happening on the ground.
But it's also an indicator, potentially, according to analysts and commentators, of perhaps the Iranian regime preparing to ramp up its
repression tactics. So, we may see more violence on the ground, and that is the fear. We have heard today from Iran Supreme Leader commenting on these
protests. Take a listen.
(BEGIN VIDEO CLIP)
AYATOLLAH ALI KHAMENEI, IRANIAN SUPREME LEADER: Last night in Tehran and other cities, a group of vandals destroyed a building in their own country,
seemingly just to win the favor of the U.S. President. If he truly knows what he is doing, he should focus on governing his own country. There are
countless serious incidents unfolding there already.
(END VIDEO CLIP)
BASHIR: And these comments, of course, come in response to a warning from the U.S. President reiterating again on Thursday that if protesters are
killed Iran, the U.S. may take action in terms of direct military action in Iran. But of course, they continue to be called for protesters to take the
streets once again today and over the weekend, Eleni.
GIOKOS: Yeah, what's also I mean, as we sing these protests, I mean, a lot of people are asking the question whether there's a viable opposition. The
former Shah's son, Reza Pahlavi, seems to have emerged, and he also seems to be, you know, putting it out there, saying more people need to get to
the streets. What are you hearing on that?
BASHIR: Yeah, absolutely, and that we've heard from Reza Pahlavi, thanking the U.S. President for his comments and remarks in terms of that warning
from the White House around potential action Iran if protesters are killed. It's unclear at this stage how much real support there is for Pahlavi
inside Iran.
The certainly is growing support base within the country, but also within the Iran Ian diaspora, seeing Reza Pahlavi as potentially an opposition
figure. There hasn't been, of course, within the country, a viable opposition group to potentially lead an opposition to the Islamic regime at
this stage.
But what is clear is there is growing dissent against the Islamic Republic, against Iran Supreme Leader and current governance structure, whether that
viable opposition is found in Reza Pahlavi, of course, is unclear at this stage. We know that he has close ties to the United States.
There also is growing criticism from within Iran as well over his reported ties, for example, with Israel, given the ongoing conflicts and tensions
between Iran and Israel. So, whether that is viable, of course, remains to be seen. He certainly has been calling on social media very vocally for
more protests to take place, for more people to take to the streets in support of this call for the toppling of the Islamic Iranian regime.
GIOKOS: Yeah.
BASHIR: At this stage, however, there is certainly a broad feeling within Iran, beyond Pahlavi, that there is certainly a growing opposition,
homegrown opposition, to the Islamic regime.
GIOKOS: All right, Nada Bashir, thank you so much for that update. We've got a lot more for you on Iran over the next two hours. It's a moving
story. I want to look at now at the public outcry that's growing over two straight days of shootings by U.S. federal agents in the United States of
Oregon.
An official says a married couple has been wounded and rested in Portland after being shot by Border Patrol agents. Our reporter on the ground says
that he's hearing the one -- that one of them was shot in the leg and the other in the chest. Oregon says it's investigating this incident came one
day after a federal immigration officer fatally shot a U.S. citizen in Minneapolis, Minnesota.
Minneapolis says it's been shot out of its own investigation into the shooting death of Renee Nicole Good. My new details are emerging about the
federal immigration agent who fatally shot Good. My colleague Sara Sidner spoke to CNN's Whitney Wild, who is tracking those details for us. Take a
listen.
[09:10:00]
WHITNEY WILD, CNN LAW ENFORCEMENT CORRESPONDENT: As we continue to learn more about the agent who was involved in this case. Court records show that
he served in the National Guard in Iraq as a gunner from 2004 to 2005. Let's talk about this case that you had mentioned.
Last summer he was dragged 100 yards after trying to arrest a man who was wanted for sexually assaulting a teenage relative in 2022. That case is
detailed in court records and multiple testimonies that CNN has reviewed, and what it shows is that, in that situation, he had tried to arrest this
man who, again, he was driving this vehicle.
He would not roll down his window. He broke open the window, reached into the vehicle, and that's when this man drove about 100 yards, dragging this
I.C.E. officer, causing him injuries to his right arm, which required 20 stitches. Caught on his left hand required 13 stitches.
In that case, he testified that he had conducted hundreds of traffic stops in his time with Border Patrol and with I.C.E., and many times he was
trying to arrest a driver who was attempting to flee. And in his testimony, he said this, they do erratic behaviors. They take great risks, and they
seem to not be aware of other people driving on the road.
They usually they just make extreme movements with their vehicles he said. Sara, again, we are learning much more about this man's background. And
Vice President JD Vance believes that his experience should inform how people view? How he may have you know his mindset as he may have entered
this experience?
And he thinks that this is important context as Americans make their own assessment about this incident. Here's more from Vice President JD Vance.
(BEGIN VIDEO CLIP)
JD VANCE, VICE PRESIDENT OF THE UNITED STATES OF AMERICA: The precedent here is very simple. You have a federal law enforcement official engaging
in federal law enforcement action. That's a federal issue, that guy is protected by absolute immunity, he was doing his job.
(END VIDEO CLIP)
WILD: Experts that CNN has spoken with say that the way that JD Vance phrase that dramatically overstates the reality here and the reality of
immunity for federal law enforcement is much more complicated.
GIOKOS: All right, turn on Nick Watt is on the ground in Portland. We'll get to him in just a few minutes. In the meantime, Russia has struck
Ukraine with one of the most advanced weapons in his arsenal, the oceanic hypersonic missile was part of a massive overnight barrage that hit various
cities.
According to President Zelenskyy, the attack consisting of almost 300 drones and missiles killed at least 4 people and injured another 24 the
strikes hit the town of Lviv, just miles from the border with Poland, putting the NATO alliance on edge. He was also hit, as CNN's Fred Pleitgen
explains.
FREDERIK PLEITGEN, CNN SENIOR INTERNATIONAL CORRESPONDENT: By all accounts, this appears to have been a massive attack on Ukraine that took place
overnight, the Ukrainians, speaking of well north of 200 drones employed by the Russians, also ballistic missiles and cruise missiles as well.
Several people killed, lots of people injured. But the one thing that really stands out is the fact that both the Russians and the Ukrainians say
that the Oreshnik medium range missile was used in this as well. This is a missile that the Russians say is capable carrying multiple nuclear
warheads, each of them with several times the destructive power of the bomb used in Hiroshima in World War Two.
And the Russians have certainly said over the past couple of weeks and months that this weapon is now going on active combat duty, and say that
they've deployed several of them in Belarus, which, of course, is also a big ally of the Russians as well. The Ukrainians are irate about this,
saying that Washington needs to put more pressure on Moscow.
But it also comes as there's been some friction between the NATO alliance and the U.S. and the Russians over the past couple of days. The U.S., of
course, intercepting a tanker that was Russian flagged, which came from Venezuela. But then also several NATO countries saying that they could
possibly send troops to Ukraine as part of any peace agreement between the Ukrainians and the Russians.
The Russians then saying that any Western and NATO troops on the ground in Ukraine would be considered legitimate targets. Fred Pleitgen, CNN, Berlin.
GIOKOS: Right, just ahead, we return to Iran, where civil unrest is erupting, not for the first time. How will it end this time. We have expert
analysis that's coming up straight ahead.
(COMMERCIAL BREAK)
[09:15:00]
GIOKOS: I want to return now to the second of two officers involved shootings in the U.S. join condemnation, this one in the state of Oregon.
An official says a married couple has been wounded and arrested in Portland after being shot by Border Patrol agents. It comes after the killing of a
woman in Minnesota by an I.C.E. agent.
We've got CNN's Nick Watt is standing by for us in Portland, Oregon. Nick, great to see you. Give me a sense of the mood on the ground there.
Importantly, after this shooting, and after, of course, that other story that we saw in Minnesota, that is, you know, we're seeing so many people
going to the ground, hitting the streets, protest actions, and importantly, a response by federal agents.
NICK WATT, CNN U.S. NATIONAL CORRESPONDENT: Yeah, there were protests here in Portland, before this shooting in Portland, connected with what was
going on in Minneapolis. There were some protests last night, six arrests, mainly for people standing in the street not obeying police.
Now what happened here is different than what happened in Minneapolis. What we're told by federal authorities here is that this was a border patrol
targeted stop of a car, two people in that car, suspected to be members of the trans national criminal organization, Tren de Aragua.
Now during that stop, after officers identified themselves, apparently the driver that car sped off. We're told by the DHS, by the federal
authorities, that he tried to weaponize that vehicle and tried to injure the officers. Now the Mayor of Portland is not really buying any of that.
He says, you know, the time when we could trust what the federal government says is long gone. So, Oregon, so state officials are also investigating
this, to see if they think that these CBP, these federal officers, operated outside the scope of their legal authority. Now, the background to all
this, there were protests here in Portland last year.
You might remember when President Trump tried to deploy National Guard here, claiming that Portland was burning to the ground. Portland was not
burning to the ground. Now, there were legal challenges to that those troops were never actually really deployed here. And the last of them were
officially stood down on Monday.
And at that time, President Trump said we managed to get crime down to almost zero in Portland, not true, and he said that he will redeploy those
troops when the crime ticks up again. So, we're waiting to see whether this or any protests that result could be used as a pretext for that.
So last night, it was relatively calm here in Portland, as I say, a few arrests, and so we're going to wait today to see what happens, and also see
what happens with this investigation. It is we're told evolving. We do not have all the facts. We have federal and state authorities both
investigating.
The FBI is investigating what they say was an assault on officers. State officials clearly want to look into it themselves, as they no longer trust
what the federal government says, Eleni.
GIOKOS: Yeah, I want you to give me a bit more insight into the investigation and how that could potentially evolve. Importantly, you're
also hearing a lot of statements by the government saying this was a clear self-defense. Many people say this is premature to say without there being
an investigation and a thorough investigation at that.
[09:20:00]
WATT: Absolutely, listen, we have not seen any video of this incident. Of course, there was video of that incident in Minneapolis. We have not seen
any video of this incident. Absolutely. Listen, we have not seen any video of this incident. Of course, there was video of that incident in
Minneapolis.
We have not seen any video of this incident. I don't know if any video actually exists. If those agents were perhaps wearing body cameras. We
don't know that yet, but the word I will use it again they say about the investigation is evolving, and it is interesting that you know the FBI is
already coming out and saying this was an assault on officers the state, a little bit more skeptical about that.
And the government, the federal government, is very eager to push that these two people that were shot were suspected, are suspected members of a
transnational criminal organization based in Venezuela, that this was a targeted stop. These people were not bystanders. They were not protesters.
They were targets of a mission by the CBP. The CBP doing what it is supposed to do, which is to arrest foreign nationals who are not citizens,
who are criminals, and remove them from the country.
GIOKOS: Yeah.
WATT: So, it is going to be fascinating to see how those I'm not going to call them dueling investigations, but two separate investigations to see
how they play out, see if they arrive at the same place or if they diverge, Eleni.
GIOKOS: All right. Nick Watt, thank you so much for that update. Good to see you. Now, Israeli authorities say they've made three arrests and are
looking for more suspects after a brutal mob attack in the West Bank. CNN has obtained video from the scene, and we must warn you it is disturbing to
watch the footage from a village near Nablus showing masked Israeli settlers encircling a Palestinian man who is lying on the ground.
He is repeatedly kicked and beaten with clubs. The victim is said to have a fractured arm, a broken jaw and other injuries. That's according to a
villager who identified the man as a 67-year-old father of six who is deaf and did not hear the mob coming. So, he didn't know to run away.
Another video shows settlers setting cars on fire. At least one other Palestinian is reported to have been hurt in the rampage. Israeli security
forces say they are investigating and this is just the latest attack in a surge of violence perpetrated by settlers. It happened near the place where
dozens of Israeli settlers carried out a major arson attack in November.
Anger is boiling over in Iran today. The anti-government protests are ongoing now for 13 days. Iranian authorities cut internet access Thursday
night, when we saw the biggest protests yet since the bout of unrest began. And so, as you can see, it hasn't kept people from getting back on the
streets.
Sanam Vakil is Director for the Middle East and North Africa Programme at Chatham House, and she joins me now live from London. Good to see you. And
importantly, 13 days on, we're seeing these images clearly, a lot of confrontation in the streets across Iran. You've got 2000 people arrested
thus far.
Do you believe that this is going to escalate further, given Khamenei's renewed warning against protesters?
SANAM VAKIL, DIRECTOR FOR THE MIDDLE EAST AND NORTH AFRICA PROGRAMME AT CHATHAM HOUSE: Thank you for having me. What is really striking is that
over this 13-day period, the protests have gained in terms of size and numbers on the streets. We don't have exact estimates to be honest and
frank, but we have seen more and more people come out with last night's protests really having been decisive.
The Iranian internet and all contact with the country have been shut down now for almost 24 hours. And the Supreme Leader has come out with very
forceful and unsurprising statements casting blame externally, which is his usual playbook, and really foreshadowing that a crackdown is under way, the
aim is to regain control and to get people off of the streets.
GIOKOS: Yeah, I want to talk about something that's really come up in terms of potential for regime change, and whether this is the start of that, you
know, and whether this is going to cause irreversible damage to the Islamic Republic in terms of how this could potentially play out as Khamenei keeps
blaming foreign intervention and blaming foreign intervention for these protests.
VAKIL: So, Iranians have been protesting for decades, with the most recent ones being in 2022, but there have been other brutal rounds of protests.
These protests, whatever the outcome, will, no doubt, further damage already fractured legitimacy for a state that I think is at the end of its
life.
[09:25:00]
The Supreme Leader is so old, this is a system that is transforming, as we see it, will it lead to the collapse of the Islamic Republic? I certainly
cannot predict that that is very much in the hands of the people inside Iran, if they have the determination, courage and momentum to face down the
regime.
And it's also in the hands of the elites inside the system. Are they going to stay loyal? Are they going to stand by their Supreme Leader, or are
there going to be fractures and fragmentation that is necessary for change to really take place?
GIOKOS: The former son of the Shah, or the former Shah's son Reza Pahlavi, which is really interesting to note, that he's sort of reemerged on the
scene in quite a significant way. And there's notable chance talking about Pahlavi. Do you believe that he could potentially be a viable opposition to
the current regime?
VAKIL: Well, Reza Pahlavi, name is chanted around Iran for a few reasons. First of all, there is no coordinated organized opposition from within the
country, in and around one person, but there are many Iranian activists, and those activists are in jail and have been suppressed and silenced over
the course of decades now.
Pahlavi draws attention, obviously because of his father and the nostalgia of a regime and a monarchy gone by. And he is among those in the diaspora
relatively well organized. But will Pahlavi himself be going back on a plane and trying to lead the future direction of Iran.
I think that itself has to be determined by Iranians inside the country, they are looking for a better outcome, a democratic outcome, after years of
dictatorship. And let's not remember that 1979 resulted in a people's led revolution against an authoritarian monarchy.
So, I hope, this time, really, if this results in something meaningful, that Iranians actually have a hand in shaping their future and playing a
role in their governance process.
GIOKOS: Sanam Vakil, thank you so much for that insight. Appreciate it very much. I want to take you now to Former British Prime Minister David Cameron
on Thursday we had a chat, and we spoke about growing protests in Iran when I asked him whether he believes they could lead to regime change. Take a
listen.
(BEGIN VIDEOTAPE)
DAVID CAMERON, FORMER BRITISH PRIME MINISTER: Frankly, the Iranian regime has only got themselves to blame. They have wasted so much money and so
much treasure --
GIOKOS: The president --
CAMERON: -- terrorist organizations around the region.
GIOKOS: 100 percent.
CAMERON: That they have wrecked the country for their own people, and they're now reaping that whirlwind as people take --
GIOKOS: So, President Trump --
CAMERON: -- and say they want something better, and I admire them for doing that.
GIOKOS: So, President Trump has said that if the Iranian regime targets the protesters, that that is when they'll strike. And you know that many say
that this is an opportunity for the U.S. and Israel to go into Iran, to embark on some kind of regime change. Would that be the right thing to do?
CAMERON: I think you have to. I think it's justified to stop the Iranian nuclear weapon being established. I think a bigger intervention into Iran
on the basis of trying to bring about regime change. I don't think is necessarily the right approach, but I think supporting those in Iran that
would like a free and democratic and better future, because their future has been stolen from them by this corrupt regime that has spent so much
money and time supporting terrorist organizations.
I applaud them for their bravery, and I hope they're successful.
(END VIDEOTAPE)
GIOKOS: Well, we had a wide-ranging conversation, and you can hear much more from the Former British Prime Minister in the next hour. And breaking
news coming through just a short while ago, the U.S. has seized another oil tank in the Caribbean Sea, according to a source familiar with the matter,
the Olina tanker was sailing near Venezuela.
These new images coming to us from the U.S. Southern Command. Take a look at that. The Olina is the third tanker to be seized by the United States
this week. Jennifer Hansler is here with us for more details. And we're looking at these images, this video footage that has been released. What
happened? Give me a sense of what we know.
JENNIFER HANSLER, CNN STATE DEPARTMENT REPORTER: Well, Eleni, what we are hearing now trickling out from the U.S. government, from U.S. Southern
Command, and from Kristi Noem, the DHS Secretary, is this was a joint operation led by the Coast Guard, where she said they executed a boarding,
a seizure of this vessel, the Olina, in international -- east of the Caribbean Sea.
She said this is part of that alleged ghost fleet of sanctioned oil tankers that was going to and from Venezuela carrying sanctioned oil.
[09:30:00]
She said that they had attempted to evade U.S. forces and that this was done in close coordination with the Department of Defense, the State
Department and the Justice Department, to board this vessel and to seize its assets. Of course, this is part and parcel of the U.S. strategy on
Venezuela moving forward.
This is something Secretary of State Marco Rubio has described as an oil quarantine. He said this is part of the key asset that they are using to
leverage that interim government, Delcy Rodriguez and others who were part of the Maduro regime into cooperating with the United States.
He said, because the U.S. has this lock on Venezuelan oil assets, they are going to be able to get the interim government to cooperate with them.
Notably, Eleni, as well, when Rubio confirmed the seizure of the two vessels earlier this week. He claims that the interim Venezuela government
had actually asked the U.S. to take the assets from one of those vessels, those oil assets.
And put it in this alleged oil deal that the Trump Administration claims they have made with the interim government to sell off those oil reserves
and to use that money that will be controlled by the U.S. to, quote, benefit the Venezuelan people. So, this is another key aspect of their
policy that is starting to emerge on the next steps in Venezuela.
And this is, of course, something that U.S. officials say is going to continue these seizures of these oil tankers, Eleni.
GIOKOS: All right. Jennifer Hansler, thank you. Thank you so much for that update. And as we're reporting breaking news that the United States seizing
another oil tanker in the Caribbean, the Olina will give you an update later on that story. Right, still to come, American oil executives are
headed to the White House today.
They have demands before they pour money back into Venezuela. We'll tell you what they are. Right after this. Stick with CNN.
(COMMERCIAL BREAK)
GIOKOS: Welcome back. I'm Eleni Giokos in Abu Dhabi, and you're watching "Connect the World". The markets in New York have begun trade, and we're
three minutes into trade. Markets right now, DOW is up three tenths of a percent, NASDAQ flat with a positive bias, and S&P 500 up a quarter of a
percent.
We had non-farm payroll numbers that were released for the month of December showing a 50,000-job increase, which is under the estimates. And
of course, the November number was also revised down to 54,000 unemployment in the United States currently at 4.4 percent.
So key economic data that, of course, is going to drive the interest rate outlook going forward. In the meantime, we're watching to see the impact on
Wall Street and beyond as President Donald Trump prepares to meet with more than a dozen U.S. oil executives in just a few hours from now.
[09:35:00]
The goal to convince them to reinvest in Venezuela's crumbling oil industry. Meanwhile, oil prices rose for a second straight day, Friday, as
geopolitical uncertainty over Venezuela and unrest in Iran sparks supply concerns. I want to take a look at where BRENT crude is right now.
It's at $62 a barrel. That's up around one and a half percent, and you've got WTI crude sitting up 2 percent. So, you're seeing quite a big push to
the upside, and really the market trying to figure out what all of this news means with regards to what we're seeing in Venezuela and importantly,
Iran and the protests playing out there.
Meantime, representatives from Chevron, Exxon Mobil and ConocoPhillips are among those expected to attend today's White House gathering. Right, I'd be
joined now by Amrita Sen, Founder of Energy Aspects, formerly with Barclays Capital, to discuss this further.
And it's truly fascinating to see that President Trump is really pushing oil companies to invest and help rebuild Venezuela's oil industry. Writing
in a social media post, and I quote, at least $100 billion will be invested by Big Oil, all of whom I will be meeting with today at the White House.
So, you and I know that companies will only invest that amount of money if they feel safe under a safe political environment. What's your reading,
into this?
AMRITA SEN, FOUNDER & DIRECTOR OF MARKET INTELLIGENCE OF ENERGY ASPECTS: I mean, look, you said it. I do think the companies are looking for some
serious guarantees from the U.S. government. They've been talking about this on the sidelines, even to Chris Wright, who's the Energy Secretary.
If they are to go back to Venezuelan invest in scale, it is not going to be a simple decision for them, because, again, they've been here before. The
contracts were not honored at that point, they were kicked out, and they simply cannot have that happen again, especially now, because you need such
a comprehensive program to raise output because of the degradation we've seen in the Venezuelan upstream, like the Orinoco basin, which is the main
basin in Venezuela.
Right now, there is just one fully operational upgrade or an upgrade is something you need in a country like Venezuela, because the oil is really
difficult to process. It's a very heavy crude oil. So, you need to put it through this thing called an upgrader. There is only one operational one.
There are no rigs to drill new wells. Storage facilities have been damaged, so you are looking for tens and hundreds of billions of dollars of
investment now to be able to reap the benefits in a few years' time as well. And we are in an oversupplied market, so it's not an easy decision
for oil companies to make those commitments now, when they won't even reap the benefits for maybe three to five years at the earliest, if not longer.
GIOKOS: Yeah, yeah. And as you say, they need political stability for that. You know, under Hugo Chavez, we actually saw a lot of nationalization that
went on. A lot of these oil companies were burnt at the time. They want to see debts repaid before they even think of reinvesting.
Even though there was debt for oil deals that were even when the Venezuela's oil was sanctioned. So, it's interesting to see that dynamic.
And I wonder what you make of President Trump saying we're going to keep 30 to 50 million barrels of oil per month is what our expectation is. Is that
going to lessen the blow?
SEN: I don't think he said 30 to 50 per month. But then again, you know, there are so many comments. I know he said 30 to 50 million barrels of this
Venezuelan oil will come. 30 to 50 million barrels per month is way more than Venezuela has been producing all of the last few years.
So that I don't think, I mean, that will be a bit of a struggle, but we'll see, basically, long story short, the numbers don't add up. When you do,
the numbers look they have been capturing tankers. You guys were reporting on it just now. That gives them about maybe 7 million barrels, maybe 8
million barrels that could count towards that 30 to 50.
Details have been limited, but let's say that does count. Venezuela has we've calculated through our tank satellite imagery that we have in house
about 8 million barrels of storage excess that could count towards this. And we know Chevron is sending a bunch of vessels, about 11 tankers to load
Venezuelan oil and bring it back.
But that's very similar to the tankers that they were sending in two four of last year, which is about getting 150,000 barrels per day. So again,
like I said, it's hard to get to those 30 to 50 million barrels. It could happen over time. Absolutely yes, because all of this will add up.
GIOKOS: Yeah.
SEN: But of course, you know, doesn't come with a time frame.
GIOKOS: Yeah, and that's the point. We've got to crunch the numbers, because they're just numbers that are being thrown out there at the moment,
and we're waiting for things to settle. Amrita, thank you so much for that update.
[09:40:00]
Good to have you on the show. We're into short break. We'll be right back. Stick with CNN.
(COMMERCIAL BREAK)
GIOKOS: Bells ringing out in the Swiss town of Crans-Montana, where a memorial service was held this Friday. Switzerland observing a day of
national mourning for all those who lost their lives in the fire at a bar in the town are as regulars celebrated the new year. Now, dignitaries
standing with families and friends of the victims to share a minute of silence.
People as young as 14 were among those who died. Police saying around 40 people were killed in that inferno. Well, that's it for this hour of
"Connect the World". "World Sport" is up next. I'll be back in 15 minutes with more news.
(COMMERCIAL BREAK)
[09:45:00]
(WORLD SPORT)
END
