U.S. Energy Secretary Chris Wright arrived in Venezuela on Wednesday, advocating for a significant transformation of the country’s energy sector. He emphasized that the United States intends to leverage its economic influence to achieve these objectives.
Wright’s visit marks a historic moment, as he is one of the highest-ranking U.S. officials to step foot in Venezuela in almost three decades. This reflects a thawing of relations between Washington and Caracas, especially after U.S. forces apprehended former Venezuelan leader Nicolás Maduro in January and extradited him to the United States.
Even though Venezuelan lawmakers recently approved major reforms to oil industry legislation, Secretary Wright stressed that Venezuela’s government needs to do even more to open its economy to international energy firms.
“The goal is to use our influence to spur genuine progress,” Wright stated to reporters in Caracas. Regarding the new energy law, he remarked, “It’s a significant move forward, but in my opinion, it likely isn’t bold or clear enough to attract the substantial capital investments we’d hope for.”
American oil giants, including Exxon Mobil—whose Venezuelan operations were nationalized twenty years ago—remain cautious about re-entering the country due to ongoing legal uncertainties and the risk of political instability.
While admitting that more efforts are needed to attract U.S. investment, Wright pointed out that global oil companies frequently venture into politically volatile nations because that’s often where rich oil reserves are located. He referenced the anticipated “flood of investment” into Libya, despite it being controlled by opposing factions.
Kicking off his three-day tour, Secretary Wright met with interim President Delcy Rodríguez, Nicolás Maduro’s successor. He announced plans to visit active oil production sites with Rodríguez on Thursday to gain firsthand insights.
Wright, who previously headed an oil company central to the U.S. fracking boom, offered a largely optimistic view of President Rodríguez’s commitment to implementing major economic and political reforms in Venezuela.
He noted Venezuela’s significant strides in improving economic conditions since Maduro’s capture, which followed a devastating economic downturn. Wright also expressed his expectation that Venezuela would eventually evolve into a more democratic political system.
Wright highlighted specific areas where Venezuela could further dismantle its authoritarian structures and strengthen ties with the United States, departing from its historical alliances with nations often opposed to Washington.
“There are still political prisoners held here,” Wright noted, referring to hundreds who remain incarcerated despite recent releases. He added, “Venezuela also maintains relationships with China, Russia, and Iran. These are aspects that need to shift.”
Wright’s presence in Caracas certainly drew attention. His extensive security detail and motorcade sped through the city, a place where murals still prominently display Venezuela’s historical connections with Iranian and Cuban leadership.
These shifts in Venezuela follow a months-long U.S. military operation against Maduro, which included numerous lethal strikes on small vessels that the Trump administration claimed were engaged in illegal drug smuggling. Former President Trump has previously cautioned President Rodríguez that failure to cooperate with the United States could lead to a similar outcome as Maduro’s.
Following his meeting with President Rodríguez, both she and Wright briefly addressed reporters outside the presidential palace, a notable display of transparency from Venezuela’s new leadership. Later, Wright held a separate discussion with foreign journalists at the JW Marriott Hotel.
He concluded by emphasizing that “a free press is an essential component of any civil society.”