U.S. Tightens Control of Venezuelan Oil Sales as Energy Secretary Sees Likely U.S. Stakes

Overview

• The energy secretary said the U.S. is running sales of Venezuelan crude under a shipping “quarantine,” routing exports through American marketers and collecting proceeds.
• He said American companies are “quite likely” to take financial stakes in Venezuelan energy assets, though decisions rest with private firms.
• Wright stressed the U.S. has not assumed operational control of PDVSA and said the military is not offering security guarantees to investors “right now.”
• A judge-backed bid by an American hedge fund to acquire Citgo awaits Treasury approval, with officials describing a legal auction process to transfer ownership.
• The administration’s push follows the Jan. 3 capture of Nicolás Maduro, as officials predict faster change while industry leaders voice caution about legal and security risks.