U.S. Won't Provide Security To Oil Companies Planning To Operate In Venezuela: 'They're Well Versed In Those Challenges'

The U.S. won't provide security guarantees to companies that plan to operate in Venezuela, Energy Secretary Chris Wright said.

"We are not going to get involved in providing on the ground security for people in Venezuela," Wright said in an interview with Bloomberg Television.

"Oil and gas companies operate all around the world in all different settings, they're well versed in those challenges," he added.

The U.S. has been seeking to attract companies to invest in the South American country. President Donald Trump has said American companies are prepared to invest as much as $100 billion there.

Rob Thummel, a senior portfolio manager at Tortoise Capital, told AFP that while U.S. expertise would be essential to revive oil output, investors would require "stability and political clarity" before committing large sums.

Financial markets have responded cautiously. Caracas stocks have risen and country risk has declined since Maduro's removal, though uncertainty persists over the durability of the interim government and the scope of future reforms.

In this context, Venezuela's interim leader, Delcy Rodríguez, has appointed a U.S.-trained economist to lead the country's main investment agency, a move widely seen as an attempt to attract foreign investment.

Rodríguez named Calixto Ortega Sánchez, a former central bank chief with professional experience in the United States, to head the International Centre for Productive Investment. Ortega is replacing Alex Saab, a close ally of Maduro who was previously accused by Washington of money laundering and was removed from government posts last week.

Ortega, who studied finance and economic policy and previously served as Venezuela's consul in Houston, has held senior roles at the central bank, PDVSA and Citgo, as Mexico's La Razón explains. Analysts said his appointment signals a shift toward engagement with U.S. energy companies at a moment when Washington claims significant leverage over Venezuela's oil sector.

Writing on X, Rodríguez said Ortega's nomination would enable "the continued attraction of national and international investment" to support economic recovery. Phil Flynn, an analyst at Price Futures Group, recently told AFP that the move sends "a signal to the Trump administration that Venezuela wants to play by the rules," adding that it could help attract companies such as Chevron and ExxonMobil and increase crude production.