Economy Politics Country 2026-02-17T19:37:22+00:00

US Energy Secretary: Venezuelan Oil Sales Could Exceed $10 Billion Annually

U.S. Energy Secretary Chris Wright announced that revenues from Venezuelan oil sales managed by Washington will help rebuild the country, potentially exceeding $10 billion annually.


US Energy Secretary: Venezuelan Oil Sales Could Exceed $10 Billion Annually

Washington, Feb 17 (EFE). - U.S. Energy Secretary Chris Wright estimated on Tuesday that sales of Venezuelan crude oil managed by Washington could exceed $10 billion annually, revenues that would help 'rebuild' the South American country after the ousting of President Nicolas Maduro.

"So far, we have sold about $1 billion in oil. So we are talking about well over $10 billion a year," Wright told Fox News. According to the secretary, who met last week in Caracas with Venezuela's interim president, Delcy Rodriguez, to promote a 'historic' energy pact, this 'huge volume of revenue' will be used to 'begin to rebuild a country and a society, restore a free press and a representative government.'

The agreement between the Rodriguez government and Washington to commercialize Venezuelan hydrocarbons will also provide 'a specific type of crude for which U.S. refineries were built in the 1970s' and 'will help asphalt production in the U.S., reducing the cost of road construction,' Wright said.

"It is a win for all and the transformation of a country with no U.S. soldiers on the ground and not a single dollar from the U.S. taxpayer. It is a diplomacy (from U.S. President Donald) Trump completely unconventional, marking a before and after," he insisted.

After the capture of Nicolas Maduro and his wife, Cilia Flores, on January 3 by U.S. forces, President Trump demanded 'full access' to Venezuela's oil resources, while Wright confirmed that Washington will control the sale of the South American country's crude oil for an 'indefinite' period.

At the conclusion of his meeting with the former vice president of Maduro, whom Trump has given a vote of confidence to be his interlocutor and govern the country, the Energy Secretary described the cooperation between the U.S. and the Rodriguez government as 'incredible.'

However, Wright reminded that Washington maintains a pressure instrument on Caracas by controlling Venezuela's oil industry, its main source of income.