.jpg)
1 hour ago
3
Article content
(Bloomberg) — President Donald Trump’s energy chief said that the US can help Venezuela drive a “dramatic increase” in oil, natural gas and electricity output this year, as Washington works to issue new licenses aimed at “setting free” the country’s economy.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
Energy Secretary Chris Wright spoke to reporters after meeting with acting President Delcy Rodríguez and other top Venezuelan officials at the Miraflores Palace in Caracas, as the US pushes to revive Venezuela’s beleaguered oil sector.
Article content
Article content
Article content
“Our government in Washington DC has been working seven days a week to issue licenses so existing businesses in Venezuela, new businesses that want to enter Venezuela, and Venezuelan national companies can buy products, invest money, raise oil production, create new jobs, grow export revenue, all of the things that have constricted Venezuela economy,” Wright said.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
“We want to set Venezuela’s people and the economy free,” he added.
Article content
Wright is the most senior US official to make a public visit to Venezuela since the Trump administration captured former President Nicolás Maduro in early January. His visit comes as Washington is pressing private companies to shoulder the lion’s share of the burden of revitalizing crude output in Venezuela, which has the world’s largest reserves.
Article content
Rodríguez, who spoke alongside Wright, said they discussed forming a long-term partnership that would allow an energy agenda to become “the driving force” of a bilateral relationship that is “productive, effective, beneficial to both countries.”
Article content
While US oil executives and industry leaders have stressed that companies need political reforms, security guarantees and other assurances before investing in Venezuela, Wright has said there has been “absolutely overwhelming” interest.
Article content
“We spoke very candidly today about the tremendous opportunities in front of us and some of the problems and challenges, and we committed to work together an move ahead to solve them,” Wright said after meeting Rodríguez.
Article content
—With assistance from Ari Natter, Andreina Itriago and Fabiola Zerpa.
Article content
English (US)