American businesses could soon take a financial stake in Venezuela's oil industry, according to Secretary of Energy Chris Wright. Wright stated that it's 'quite likely' American companies will have an expanded presence in Venezuela's oil sector following the removal of former President Nicolás Maduro. However, the U.S. has not taken over the management of Venezuela's state-owned PDVSA oil and gas company. Instead, the U.S. is focusing on controlling the sale of Venezuelan crude oil, ensuring that it is sold through American crude marketers and then distributed in the global market. This strategy aims to generate funds that can be used to improve the lives of both Americans and Venezuelans. Wright expressed optimism about the potential for rapid change in Venezuela, citing the U.S.'s influence over the oil sales as a catalyst for positive transformation. He emphasized the importance of working with current government officials, despite some being indicted in the U.S., to prevent a national collapse while moving towards a representative government. Wright also addressed the situation with Cuba, noting that the U.S. is not currently pressuring Mexico to cut off oil supplies to Cuba, despite President Trump's social media warning.
