Tags: wright | venezuela | oil | minerals

Secretary Wright to Lock Venezuela Oil, Minerals Deals Within Weeks

By    |   Friday, 16 January 2026 06:03 PM EST

Energy Secretary Chris Wright said the Trump administration is moving to lock in oil and critical minerals deals with Venezuela within weeks.

It's a push the administration is casting as a fast  rack to more Western Hemisphere energy supply, tighter control of revenue flows, and a reduced role for China. 

Wright told Axios the effort is aimed at boosting Venezuelan production and steering the country toward what he called better behavior, as Washington deepens its involvement after the removal of Nicolas Maduro from power in a Jan. 3 arrest.

"The goal is to drive Venezuela's behavior in a positive direction," Wright said.

"We want to stop the running of drugs. We want to stop the kidnapping of Americans. We want to stop the gangs, criminality, and corruption. We want to stop the Hezbollahs of the Western Hemisphere."

President Donald Trump has spoken openly about seeking de facto control of Venezuela's oil production, while democracy and elections have become a lesser near-term focus.

Wright also rejected the idea that the United States is "taking" Venezuelan resources and said Venezuelan counterparts support the approach.

"The counterparts in Venezuela are thrilled by this," he said. "Think if you're in the Venezuelan administration right now, you know a third of that oil goes to corrupt gangsters who are selling that oil.

"The remaining oil that you control, you're selling at a huge discount. It's almost all going to China. This is a boost for Venezuela."

The administration, in the short term, is prioritizing a functioning Venezuelan government financed by exports over a rapid shift to a new democracy, and is backing interim President Delcy Rodriguez, along with senior figures including National Assembly President Jorge Rodriguez and security chief Diosdado Cabello.

Reuters has reported a parallel, more contested debate in Washington, including Senate movement aimed at curbing military action in Venezuela and criticism from international actors over legality and stability risks tied to U.S. intervention.

"None of us should want this president, or any president, to take our sons and daughters to war without notice, consultation, debate, and a vote in Congress," Sen. Tim Kaine, D-Va, said in remarks to reporters after the Senate vote.

"We're not currently conducting military operations there," Senate Majority Leader John Thune, R-S.D., said.

On the commercial front, the administration has begun selling Venezuelan crude under a $2 billion framework, and Wright has argued that U.S. oversight of oil sales and revenue is central to Washington's leverage.

Rodriguez has announced plans to reform Venezuela's hydrocarbons law to allow more U.S. investment, and quoted a White House adviser pointing to a broader operational shift tied to deportation flights and outbound resource flows.

"Between the deportation flights into the country and the oil and mineral flows out that Wright is working on, we're facing an entirely new dynamic in the Western Hemisphere," the adviser said.

Reuters contributed to this report.

Jim Thomas

Jim Thomas is a writer based in Indiana. He holds a bachelor's degree in Political Science, a law degree from U.I.C. Law School, and has practiced law for more than 20 years.

© 2026 Newsmax. All rights reserved.


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Energy Secretary Chris Wright said the Trump administration is moving to lock in oil and critical minerals deals with Venezuela within weeks, a push the administration is casting as a fast track to more Western Hemisphere energy supply, tighter control of revenue flows, and...
wright, venezuela, oil, minerals
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2026-03-16
Friday, 16 January 2026 06:03 PM
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