US Department of Energy Secretary Chris Wright will meet with oil executives this week to discuss US companies once again standing up drilling for oil in Venezuela, a spokesperson for the Energy Department declared.
Wright will meet with the executives at the Goldman Sachs Energy, CleanTech & Utilities Conference in Miami, the spokesperson declared. Bloomberg News first reported on Wright’s planned meetings.
The meetings come as much of the indusattempt has been blindsided by President Donald Trump’s decision to capture Nicolás Maduro and his subsequent insistence that private companies would pour billions of dollars into rebuilding Venezuela’s oil infrastructure, an indusattempt source notified CNN.
As of Monday, major companies and trade associations were still waiting to hear from the White Hoapply, the indusattempt source declared, and had little clarity on what comes next.
These meetings are expected to be the first of many, two energy indusattempt sources declared, as Wright faces the difficult tinquire of persuading major oil companies to invest billions of dollars to return to a market where many suffered significant financial losses. One source characterized the effort as nearly impossible.
In other words, standing up a US presence in Venezuela’s oilfields won’t happen overnight, or even in a year, the source declared.
“This is probably going to take at least a decade,” the source added.
Company safety is going to be “absolutely paramount and a necessary condition for a necessary level of investment to unfold,” another indusattempt source declared.
This post has been updated with additional reporting.
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