U.S. Energy Secretary Chris Wright indicated this Tuesday that annual sales of Venezuelan crude oil will exceed $10 billion.

These revenues would be key to the country’s reconstruction, the U.S. official emphasized, adding: “So far we have sold about $1 billion worth of oil. We recently signed agreements to sell another $5 billion in the coming months. So we are talking about well over $10 billion a year.”

Last week, the official met in Caracas with Venezuela’s interim president, Delcy Rodríguez, to promote a “historic” energy pact. He stated that “this enormous volume of revenue” would be used to “begin rebuilding a country and a society, restoring a free press and a representative government.”

Wright indicated that President Donald Trump has given Rodríguez a vote of confidence in the transition process underway in the South American country. However, he noted that “Washington maintains leverage over Caracas by controlling the Venezuelan oil industry, its largest source of income.”

M.Pino

Source: swissinfo

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Last week, key meetings took place between U.S. Energy Secretary Chris Wright and Venezuelan Interim President Delcy Rodríguez, as well as PDVSA President Héctor Obregón Pérez and Venezuela’s diplomatic representative to the U.S. Félix Plasencia, to evaluate and define projects in the energy and oil sector

 They also discussed other sectors relevant to bilateral trade relations, such as natural gas, mining, and the national electricity system. The objective is to strengthen trade relations between the two countries and bolster the productive sector.

The working group, in which Obregón and Plasencia participated, “allowed for the definition of investment plans aimed at operational recovery and the utilization of hydrocarbons for regional energy security.”

For her part, Acting President Delcy Rodríguez noted that “the technical delegation accompanying U.S. Secretary of Energy Christopher Wright has held meetings with their Venezuelan counterparts to establish mechanisms for immediate implementation.”

In this regard, the technical coordination aims to establish pathways to “advance in strengthening the industry and unlocking the country’s energy potential.”

These actions include collaboration among specialists from both nations, reaffirming the commitment to maintain permanent channels of dialogue “to finalize the infrastructure and production projects discussed at Miraflores Palace” in Caracas.

M.Pino

Source: ciip

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U.S. Energy Secretary Chris Wright visited the oil fields Chevron operates in Venezuela on Thursday, February 12, and indicated that the company can increase production to 300,000 barrels per day.

According to Wright, “there is no doubt” that the oil company can increase production to that amount. “It’s about making the two agreements, political and economic, as smooth as possible between our countries,” he told the state-run television channel Venezolana de Televisión (VTV).

The Washington envoy toured the facilities of the plants in the Orinoco Oil Belt alongside the acting president, Delcy Rodríguez, and a delegation from the oil industry.

The area is key, as it “covers 55,314 square kilometers and is located south of the states of Guárico, Anzoátegui, Monagas, and Delta Amacuro (east)” and, according to the state-owned PDVSA, “contains 87 % of Venezuela’s reserves, making it ‘the largest crude oil reserve in the world’.”

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Source: primicias

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