Wright: China Won't Claim Venezuelan Oil Revenue
US Energy Secretary Chris Wright announced that China will not have any claims to Venezuela's oil revenue from new production. Wright made the statement during a Bloomberg Television interview in Caracas, where he is scheduled to meet with acting Venezuelan President Delcy Rodríguez.
The US is working with private companies to restructure Venezuela's debt and expand its crude output. Deals are being signed with energy companies such as Chevron Corp., GE Vernova Inc., Eni SpA, Shell Plc, BP Plc, and Spain's Repsol SA. These agreements aim to limit the influence of Chinese and Russian companies in the region.
Venezuela is considering whether it should quit OPEC, an oil cartel it helped create more than six decades ago. However, Wright said he has not had conversations with Venezuelan officials on this matter.