Energy Secretary Plans Venezuela Trip, Says Country's Oil Wealth Is 'Coincidental' to U.S. Move Against Maduro

Energy Secretary Chris Wright said he plans to travel to Venezuela soon to meet government leaders and discuss the future of the country's state-run oil company, arguing that oil resources were not a driving factor behind the Trump administration's move against deposed leader Nicolás Maduro.

In an interview with POLITICO's Energy podcast, Wright said the removal of Maduro was "not a move for more oil supply" and that Venezuela's crude reserves were not a "meaningful part of the decision-making." He described the situation instead as a geopolitical matter, calling Venezuela under Maduro "a threat to all of its neighbors" and "a threat to the Western hemisphere."

"It may be a nice coincidence, but it is coincidental that Venezuela's main product and giant resource is oil," Wright told the news site.

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Wright said his visit would include meetings with interim leader Delcy Rodríguez and energy sector officials, and would focus in part on management reforms at the country's national oil company Petróleos de Venezuela, or PdVSA.

"PdVSA was a highly professional, technically competent oil and gas company 30 years ago, and it hasn't been one for quite some time," Wright said, adding that he wants to "start the dialogue" on the company's future leadership, while noting it remains "a Venezuelan company."

President Donald Trump has said the U.S. aims to help rebuild Venezuela's oil sector and suggested that could contribute to lower energy prices. Some industry executives have expressed caution about investing given political and security risks.

Wright said in late January that the U.S. will not provide security guarantees to companies operating there. "We are not going to get involved in providing on the ground security for people in Venezuela," he told Bloomberg Television, adding that oil and gas companies are accustomed to operating in complex environments.

Wright has also been vocal about transition in Venezuela as The Wall Street Journal detailed he told executives there will be elections in 18 to 24 months.

In the POLITICO interview, Wright also praised recent changes to Venezuela's oil law aimed at giving foreign companies more operational control, but said further revisions — including clearer ownership rights and neutral dispute resolution — would be needed to attract major investment.

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