Overview
- Energy Secretary Chris Wright toured Chevron–PDVSA’s Petropiar with acting president Delcy Rodríguez and forecast a 30–40% rise in national output within a year.
- Treasury’s OFAC issued general licenses for BP, Chevron, Eni, Repsol and Shell to operate under conditions, with royalties directed to Treasury-designated accounts and a separate authorization to negotiate new deals.
- Wright said oil-sale proceeds have surpassed $1 billion, roughly $5 billion in additional short‑term sales are planned, and funds are shifting from a Qatar account to U.S. Treasury control.
- Venezuela’s new hydrocarbons law opened production and sales to private operators with independent arbitration, though companies still cite security, rule‑of‑law and repayment risks.
- President Trump called ties with Rodríguez “very good,” said he plans to visit Venezuela, and U.S. oversight continues as recognition and revenue‑custody questions draw scrutiny in Congress.