Energy Secretary Chris Wright is the highest-ranking U.S. official in Venezuela since Maduro's capture, meeting with acting President Delcy Rodriguez and visiting Chevron oil fields.
Anne Marie Jordan
Chris Wright
In the first year, we'll see pretty significant, 30, 40% growth in Venezuelan oil production this year.
Those reserves are why Chevron has stayed for 100 years, as well as U.S. adversaries China and Russia.
Anne Marie Jordan
Chris Wright
One of the problems in Venezuela is the huge presence of China, Russia, Iran, Hezbollah, Hamas. We want it to be open to less corrupt, honest American, Western American allies for business.
The administration plans to issue licenses to allow import of parts and services. Exxon and ConocoPhillips had assets nationalized by Hugo Chavez, costing billions.
Anne Marie Jordan
Chris Wright
There are active discussions with ConocoPhillips and others who lost assets. We're looking at how to get some recompense and entice them to come back and grow production.
The administration has high hopes this will be an opportunity for American companies to recover and go back to Venezuela.