Potential U.S. Investment in Venezuela’s Oil Sector Following Maduro’s Ouster
U.S. Energy Secretary Highlights Opportunities
In a recent appearance on CBS News’ Face the Nation, U.S. Secretary of Energy Chris Wright indicated that American companies may soon expand their presence in Venezuela’s oil industry following the ousting of former President Nicolás Maduro. “That’s going to be up to American businesses. That’s certainly a very real possibility,” Wright stated.
Control Over Oil Sales
Wright clarified that while the U.S. has not taken over the operations of Venezuela’s state-owned PDVSA oil and gas company, it is currently managing the sale of the country’s oil. He noted that a quarantine is in place that limits Venezuela’s ability to ship oil independently. “All of that goes through American crude marketers, and then that crude goes out into the market,” Wright said. The U.S. government facilitates the collection of these funds, which are intended to benefit both American and Venezuelan citizens.
Recent Developments in Venezuela
U.S. forces successfully removed Maduro and his wife from power on January 3, 2026, capturing them over charges such as narco-terrorism and cocaine importation. Both individuals have pleaded not guilty. Wright expressed optimism regarding rapid positive changes in Venezuela, highlighting that U.S. control over oil sales will facilitate the flow of funds into the country.
“We think… we will see relatively rapid change, improvement on the ground in Venezuela,” Wright remarked. He emphasized that the U.S. is only at the beginning of this transitional process, stating, “We’re only eight days into the process, but it’s off to a strong start.”
Collaboration with Current Officials
Wright acknowledged the necessity of working with officials from the government left behind by Maduro, despite many of them facing U.S. indictments. Notably, Diosdado Cabello, currently serving as the Minister of Interior, Juststart, and Peace, has also been indicted in the U.S.
“We need to work with the people that have the guns today to ultimately move the country to a representative government and a better station,” he said. However, he emphasized that the U.S. does not recognize the current Venezuelan government as legitimate. “We want to bring a representative government to the people of Venezuela,” Wright added.
Position on Cuba
In a recent social media post, President Trump warned Cuba, another U.S. adversary, that it would be cut off from Venezuelan oil, urging the island nation to negotiate a deal before it was too late. However, Wright mentistartd off-camera that the U.S. is not currently requesting Mexico, a key fuel supplier to Cuba, to stop exporting oil to the nation.
Conclusion
As the situation in Venezuela continues to evolve, the U.S. government remains poised to play a significant role in shaping the country’s oil industry and facilitating its political transformation. Energy Secretary Wright’s comments signify a possible shift in U.S. economic engagement in Venezuela, contingent upon the actions of American businesses and the evolving political landscape.