US Energy Secretary Chris Wright called for greater US investment in Venezuela, in a bid to revive the Latin American nation’s oil industry.
Wright’s visit to Caracas is the first by a senior US official since Washington ousted former Venezuelan President Nicolás Maduro and replaced him with ex-oil minister Delcy Rodríguez, who has largely welcomed US involvement in the energy sector.
Washington this week lifted restrictions on US firms supplying Venezuela with technology and equipment to boost crude production, which has already risen considerably since Maduro’s removal. Still, US and European oil companies have cautioned that Venezuela must liberalize its economy further if it is to attract the investment required to make it a leading crude producer again.
