Introduces U.S. Energy Secretary Chris Wright touring Chevron facility in Venezuela, asks about working with interim President Delcy Rodriguez.
Annmarie Horden
Chris Wright
Confirms enthusiasm from Venezuelan government, says Trump's diplomacy is changing Venezuela's history and U.S.-Venezuela relations.
Asks about U.S. leverage in Venezuela.
Annmarie Horden
Chris Wright
States main leverage is U.S. selling Venezuelan oil, getting 50% higher dollars per barrel, removing corruption, and directing funds to Venezuela.
Asks about new licenses for oil companies and expansion.
Annmarie Horden
Chris Wright
Confirms releasing general licenses for all American/international oil companies, soon licenses for parts/services import, enabling Chevron to massively grow.
Asks about production growth timeline and capacity.
Annmarie Horden
Chris Wright
Expects 30-40% growth in Venezuelan oil production in first year, continued good growth rate, confirms Venezuela has largest crude reserves but underexploited.
Asks about need for elections and rule of law for investor confidence.
Annmarie Horden
Chris Wright
Agrees secure property rights and rule of law essential, progress starting but needs free/fair democratic elections to complete transformation.