US energy secretary vows oil output will double on visit to Venezuela
Summary
The US Energy Secretary Chris Wright visited Venezuela to sign a major oil deal. The agreement will create a US-controlled private company holding 65 billion barrels of proven oil reserves, aiming to increase US oil production from Venezuela and attract more American energy companies to invest there.Key Facts
- US Energy Secretary Chris Wright visited Venezuela on February 9, 2026.
- A landmark oil deal was signed between the US government and Venezuela during this visit.
- The deal creates a private company controlled by the US that holds 65 billion barrels of proven oil reserves.
- The goal is to double Venezuela’s oil output under US management.
- This agreement aims to encourage other US energy firms to invest in Venezuela.
- The deal faces serious challenges related to Venezuela’s political and economic situation.
- Venezuelan oil tycoon Alejandro Betancourt is involved in related business interests.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.
