Energy Secretary Chris Wright is planning to lead a group to Venezuela, as the United States expands its control over the country’s oil industry, a U.S. official told reporters Tuesday.
Wright will be in the country for a forthcoming announcement from Chevron, which plans on increasing its production capacity in Venezuela, the official said. The official spoke under the condition of anonymity under terms set by the White House.
Chevron is the only major U.S. oil company with a presence in Venezuela. Chevron’s expected expansion in the country, and the energy secretary’s visit, come after the White House announced it would be taking control of more than 65 million barrels of oil reserves in Venezuela through an agreement with North American Blue Energy Partners.