US signals easing of energy restrictions after energy secretary’s Caracas visit
Wright said the US embargo on Venezuelan crude had “essentially ended” and argued Washington was prepared to help boost Venezuela’s oil, gas and broader energy output
Venezuela’s acting President and Oil Minister Delcy Rodríguez met on Wednesday at Miraflores Palace with US Energy Secretary Chris Wright to discuss what the Venezuelan government described as “an energy agenda that benefits both nations,” as bilateral contacts continue to reopen.
Speaking in Caracas after the meeting, Wright said the US embargo on Venezuelan crude had “essentially ended” and argued Washington was prepared to help boost Venezuela’s oil, gas and broader energy output. In a joint appearance with Rodríguez, he said that if both sides “work together,” the two governments could “significantly increase” oil, natural gas and electricity production by the end of the year, linking the goal to jobs and improvements in incomes and living standards.
Rodríguez said the agenda could move forward “without setbacks” and expressed hope the trip would be “the first of many.” In its post-meeting statement, the Venezuelan government framed the talks around “energy sovereignty” and “historic bilateral relations.”
The visit came as the US Treasury’s Office of Foreign Assets Control (OFAC) announced a new set of Venezuela-related authorizations and amendments. In an official notice, OFAC said it was issuing General License 48 (authorizing the supply of certain items and services to Venezuela), General License 30B (authorizing certain transactions necessary to port and airport operations), and General License 46A (authorizing certain activities involving Venezuelan-origin oil).
Local reporting on Wright’s agenda indicated planned visits to energy facilities in eastern Venezuela and additional meetings with government officials and industry executives. Venezuelan authorities presented the site visits as part of an on-the-ground assessment of the sector.
Even with the announced easing, practical constraints remain for any near-term expansion, including logistics and regulatory conditions affecting operations and investment flows, against the backdrop of long-running infrastructure and financing challenges across Venezuela’s oil and power industries.
