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🇲🇽 Mexico /Energy & Infrastructure

US Energy Secretary Arrives in Venezuela to Prepare Chevron Oil Expansion

From El Universal · () Spanish

Translated from Spanish and summarized by DistantNews. Read the original for the full story.

At a glance

News Official statement New plan
  • U.S. Energy Secretary Chris Wright arrived in Venezuela to take part in the signing of a new Chevron contract in the Orinoco Oil Belt.
  • A U.S. official said Chevron would announce an expansion of its operations, which is expected to increase Venezuela’s production capacity.
  • The visit follows a 25-year oil agreement targeting production above 1.5 million barrels per day and Venezuela’s decision to open the sector further to private and foreign investment.

U.S. Energy Secretary Chris Wright arrived in Venezuela to prepare the signing of a new Chevron contract in the Orinoco Oil Belt, just four days after Washington and Caracas announced what they called a historic oil agreement.

Wright and his delegation arrived at Maiquetía International Airport near Caracas shortly after 8:30 p.m. local time. Venezuela’s Hydrocarbons Minister Paula Henao and U.S. chargé d’affaires John Barrett received them, according to state broadcaster Venezolana de Televisión, which showed images of the arrival.

The trip marks Wright’s second visit to Venezuela. He traveled to Caracas in February to establish a long-term energy partnership with acting President Delcy Rodríguez. A U.S. official told reporters that Wednesday’s signing would be followed by Chevron announcing “the expansion of its current operations in the country, something that will also increase Venezuela’s production capacity.”

The expansion of its current operations in the country, something that will also increase Venezuela’s production capacity.

— Unnamed U.S. officialThe official described what Chevron was expected to announce after the new contract signing.

Caracas and Washington announced the oil agreement last Friday. Rodríguez said it would run for 25 years and aim for production above 1.5 million barrels per day. Wright said on social media that President Donald Trump’s energy diplomacy was producing results by advancing new energy deals, opening opportunities for U.S. companies and strengthening energy security across the hemisphere.

The two countries broke diplomatic relations in 2019 and restored them in March. Venezuela has also transferred state control over parts of the oil industry this year by substantially revising its hydrocarbons law, opening the sector to private and foreign capital. Analysts cited in the report interpret the move as dismantling the legacy of the late President Hugo Chávez.

President Trump’s energy diplomacy is delivering results, advancing new energy deals, opening the door for American companies, and strengthening energy security across our hemisphere. American energy leadership is back.

— Chris WrightWright described the visit and U.S. energy policy in a social media post.
About this summary

Originally published by El Universal in Spanish. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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