U.S. Energy Secretary Visits Venezuela to Assess Oil Industry Overhaul

Chris Wright's trip comes as the U.S. government continues to lift sanctions to allow foreign companies to operate in Venezuela.

Published on Feb. 11, 2026

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U.S. Energy Secretary Chris Wright has arrived in Venezuela to assess the country's efforts to overhaul its dilapidated oil industry. The visit follows last month's enactment of a new Venezuelan law that opens the nation's oil sector to private investment, reversing a long-standing policy. Wright is expected to meet with government officials, oil executives, and others as the U.S. government continues to lift sanctions to facilitate foreign investment in Venezuela's crucial oil industry.

Why it matters

The U.S. government is taking a more active role in shaping Venezuela's oil industry overhaul, as the country seeks to attract foreign investment and expertise to revive its most important economic sector. This represents a shift in U.S. policy towards Venezuela, as the Trump administration looks to exert influence over the country's energy resources.

The details

The new Venezuelan law grants private companies control over oil production and sales, ending the state-run oil company PDVSA's monopoly. It also allows for independent arbitration of disputes, which foreign investors view as crucial to guard against future expropriation. The U.S. government has said the private sector will be essential to boosting Venezuela's oil sector, modernizing the electric grid, and unlocking the country's enormous potential.

  • On February 11, 2026, U.S. Energy Secretary Chris Wright arrived in Venezuela.
  • Last month, Venezuela enacted a new law opening the country's oil sector to private investment.

The players

Chris Wright

The U.S. Energy Secretary visiting Venezuela to assess the country's oil industry overhaul.

Delcy Rodríguez

The acting President of Venezuela who proposed the overhaul of the country's energy law after the seizure of former President Nicolás Maduro.

Nicolás Maduro

The former President of Venezuela who was seized in a U.S. military attack in Caracas on January 3.

PDVSA

Venezuela's state-run oil company that previously held a monopoly over oil production and sales in the country.

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What’s next

Energy Secretary Chris Wright is expected to meet with acting President Delcy Rodríguez, government officials, oil executives, and others during his visit to assess Venezuela's oil industry overhaul.

The takeaway

The U.S. government is taking a more active role in shaping Venezuela's oil industry overhaul, as the country seeks to attract foreign investment and expertise to revive its crucial energy sector. This represents a shift in U.S. policy towards Venezuela, as the Trump administration looks to exert influence over the country's energy resources.