U.S. Energy Secretary Seeks Fair Business Climate in Venezuela to Lure Investment

Deep News
Feb 12

U.S. Energy Secretary Chris Wright stated at an international media roundtable in Caracas that the United States expects Venezuela to provide a fair business environment to attract investment in the oil, natural gas, and electricity sectors. Wright noted that the risks associated with investing in Venezuela have decreased compared to two months ago. He indicated that Venezuela's state of "oil isolation" has largely ended and that he plans to inspect oil fields and engage with local workers on Thursday. Wright mentioned that, in the long term, debt restructuring agreements will eventually be reached for companies awaiting overdue payments. However, he emphasized that this is not an issue that can be resolved overnight. Wright added that he did not discuss Venezuela's potential elections with Acting President Rodriguez today but has addressed the topic in the past.

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