US energy secretary arrives in Venezuela to discuss oil deal
Wright said new agreements could more than double crude output as U.S. companies move to secure long-term access to Venezuela’s oil reserves.
- U.S. Energy Secretary Chris Wright arrived in Caracas on Tuesday for a one-day visit to finalize energy agreements expected to be signed Wednesday that could more than double Venezuelan crude production in coming years.
- Venezuelan oil production once peaked above 3 million barrels per day but plummeted to around 1.1 million to 1.2 million bpd recently, prompting major firms including Chevron, Eni, ONGC, and GeoPark to sign energy agreements this week.
- North American Blue Energy Partners secured a 100-year lease for 17 oilfields holding 65 billion barrels of reserves; a U.S. official defended NABEP leader Alejandro Betancourt as "not a bad actor" despite his history of investigations.
- Wright predicted U.S. gasoline prices should fall in coming weeks as the Trump administration eases refining regulations, while oil rigs from Texas will create jobs in both the United States and Venezuela.
- These U.S.-backed energy projects displace oilfields recently controlled by China and Russia. China's Foreign Ministry said on Tuesday its cooperation with Venezuela is "protected by international law" and its interests must be guaranteed.
53 Articles
53 Articles
The contract cedes the exploitation of one fifth of Venezuela's oil reserves to the United States.The agreements Chris Wright plans to sign on Wednesday "are to bring peace, opportunities and prosperity to the people of Venezuela and the people of the United States," he said.
Venezuela's oil production will exceed two million barrels a day by 2030, said the US Secretary of Energy, who arrived in Caracas the day before.
Business - US energy secretary vows oil output will double on visit to Venezuela
US Energy Secretary Chris Wright landed in Venezuela on Tuesday ahead of a signing ceremony for a landmark oil deal between the US government and Venezuela. The deal would see the US create and control…
United States Secretary of Energy Chris Wright has announced that the agreements that oil companies will sign from the United States and other countries in Caracas will more than double crude oil production over the next few years.
US energy secretary says Venezuela oil output to more than double in next few years
U.S. Energy Secretary Chris Wright said on Tuesday after landing in Venezuela that deals that oil companies from the U.S. and other countries sign tomorrow in Caracas will lead to a more than doubling of crude production in the next few years.
At Maiquetía Airport, the U.S. Secretary of Energy told journalists that he intends to increase "the private capital flow of a large number of U.S. companies".
Coverage Details
Bias Distribution
- 56% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
