A day earlier, Beijing demanded respect for its energy agreements with Venezuela
The Daily Journal.- U.S. Energy Secretary Chris Wright said China will have no rights to collect revenue from Venezuela’s new oil production as efforts move forward to restructure the Caribbean country’s massive debt.
In an interview with Bloomberg Television from Caracas, the U.S. official said authorities are working to restructure Venezuela’s debt. He also said the development of new oil fields will benefit the Venezuelan people, Americans and global energy markets.
A day earlier, Beijing demanded respect for the energy agreements between China and Venezuela. “China’s legitimate rights and interests in Venezuela must be safeguarded,” Chinese Foreign Ministry spokesperson Guo Jiakun said.
Chevron and other oil companies join the plan
On Wednesday, Caracas reached an agreement with U.S.-based Chevron Corp. to significantly expand its operations in Venezuela through two massive fields in the Orinoco Oil Belt. The parties also signed agreements with GE Vernova Inc. and Italy’s Eni SpA.
Meanwhile, Shell, BP and Spain’s Repsol plan to join the initiative, according to interim President Delcy Rodríguez.
At the same time, Venezuela, a founding member of OPEC, is considering whether to leave the organization it helped create more than six decades ago. However, Wright said he did not discuss the issue with Venezuelan officials.
With information from Bloomberg
