US Energy Secretary Embarks on Mission to Revive Venezuela's Oil Industry
US Energy Secretary Chris Wright is set to arrive in Venezuela on Wednesday as part of a high-level visit focused on energy policy, marking nearly three decades since the last such visit. The trip comes after the US issued a general license authorizing the exploration and production of oil and gas in Venezuela, with Wright's agenda including meetings with interim president Delcy Rodriguez and executives from companies like Chevron and Repsol.
The US aims to rebuild Venezuela's oil industry, which has been plagued by decades of underinvestment, mismanagement, and harsh sanctions. The $2 billion oil supply deal agreed between the US and Venezuela in January is seen as a key step towards this goal, with President Donald Trump promoting a $100 billion reconstruction plan for the country's energy industry.
Thomas O'Donnell, an analyst specializing in energy geopolitics, views the visit as part of a longer-term US geostrategic interest in Venezuelan oil. He suggests that Washington seeks to reshape global energy markets while pressuring Russia, with the Trump administration pursuing a 'doctrine of American energy dominance'.