The United States will not provide on-the-ground security for American oil companies operating in Venezuela, Energy Secretary Chris Wright said this week, undercutting a key assurance some firms have sought as Washington presses to draw investment back into the oil-rich country.
Wright, speaking in a televised interview, rejected the idea that U.S. troops or direct security guarantees would be used to protect corporate personnel or facilities. He argued that global oil and gas companies routinely operate in volatile regions and must manage security risks as part of doing business.
"We are not going to get involved in providing on-the-ground security for people in Venezuela," Wright said. "Oil and gas companies operate all around the world in all different settings; they're well versed in those challenges."
He later added, "There's always different risk and reward situations in time, which is why the wildcatters will move first. The bigger, longer-term, tens of millions of dollars of investment, they're going to wait until there's more clarity in that environment."
The comments come as U.S. officials and energy executives weigh how to revive Venezuela's vast but battered petroleum sector, which has suffered years of underinvestment, corruption allegations, outages and industrial accidents.
Venezuela has some of the world's largest proven oil reserves, but production and export capacity have been constrained by deteriorated infrastructure, a weakened state oil company and shifting international sanctions.
In recent years, American and other foreign companies have approached Venezuela cautiously, citing concerns about personal safety, contract enforceability and the risk of asset seizures. Those worries have been amplified by political instability and longstanding disputes over the legal framework governing joint ventures and revenue flows.
The investment push has taken on added urgency after the capture of Venezuela's longtime leader Nicolas Maduro in early January and the emergence of an interim government led by acting President Delcy RodrÃguez.
Her administration has signaled it wants foreign capital and technical expertise to raise output and generate revenue, and Venezuelan lawmakers have moved toward changes intended to make projects more attractive to international companies.
A proposed hydrocarbons bill circulating in Caracas would loosen state control over operations and outline royalty terms, while also attempting to address arbitration and contracting issues that investors consider essential. Still, analysts and executives say legal clarity and credible security conditions remain major barriers to multibillion-dollar commitments.
Wright has said the United States can use its leverage over oil revenue flows and the sanctions regime to influence conditions for investors. He also has indicated that Washington sees Venezuelan oil as a potential contributor to global supply, provided U.S. priorities are met on governance, transparency and the handling of proceeds.
Wright plans to travel to Venezuela to inspect oil infrastructure and meet with RodrÃguez, according to people familiar with the planning.
The trip is expected to include talks with Venezuelan officials and industry representatives on near-term production constraints and what U.S. officials describe as a longer-term pathway for private investment.
The Trump administration has encouraged U.S. involvement in Venezuela's oil industry while maintaining that U.S. policy will seek to control how oil revenue is used. Those efforts have included discussions tied to Chevron's ability to operate in the country and broader deliberations over export authorizations.
Wright said long-term investment decisions will ultimately depend on political and legal reforms inside Venezuela and whether companies can see a viable path to security and profitability without U.S. protection on the ground.
Theodore Bunker ✉
Theodore Bunker, a Newsmax writer, has more than a decade covering news, media, and politics.
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