U.S. Energy Secretary Presses Venezuela for Greater Oil Reforms

Energy Secretary Chris Wright arrived in Venezuela to press for a bolder overhaul of its energy industry, saying the United States could use its standing as an economic colossus to drive change. His visit, one of the highest-ranking by an American official in nearly 30 years, reflects warmer ties after U.S.

forces captured Nicolás Maduro and forcibly extracted him to the United States. Mr. Wright called the new energy law a meaningful step but said it was “probably in my view not far and clear enough to encourage the large capital flows you’d like to see,” and added, “The idea is to use leverage to drive progress.” Some U.S.

companies, including Exxon Mobil, have been skeptical about returning, citing legal risks and potential political upheaval. He also noted that international oil firms often accept such risks and pointed to a “flood of investment” expected in Libya. At the start of his three-day visit, Mr.

Venezuela

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