US Department of Energy hints it will invest in Venezuelan oil
2026-09-16 22:09:15
According to CoinMeta, U.S. Energy Secretary Chris Wright stated that as the price of Brent crude oil surpassed $108.75, a major oil and natural gas producer that played a key role in the shale revolution is expected to announce significant investments in Venezuela. Although he did not disclose the specific company or the scale of the investment, the timing is noteworthy: Brent oil prices recently reached $108.75, and diesel prices have also soared due to tensions in the global fuel market. Venezuela possesses vast oil reserves, but due to years of inadequate investment and deteriorating infrastructure, production is far below historical highs. New American investments could help change this situation. Chevron has already pledged to invest billions of dollars to expand its operations in Venezuela, and another major producer entering the country would further strengthen the case for the revival of its oil industry.
Source:Coinpaper
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