Just weeks ago, the idea would have seemed implausible: a senior United States official walking through Venezuela’s vast oil fields alongside the country’s acting president, discussing investment plans and long-term cooperation. Yet on Thursday, that improbable image became reality when US Energy Secretary Chris Wright toured a major oil facility in eastern Venezuela with acting President Delcy Rodríguez. The visit marked a dramatic shift in relations between Washington and Caracas following the ouster and arrest of former Venezuelan president Nicolás Maduro in a US-led operation just over a month ago.
Now, amid a fragile political transition, both governments appear eager to reset.
The tour took place at Petropiar, an oil processing facility in the Orinoco Oil Belt operated as a joint venture between US energy giant Chevron and Venezuela’s state oil company PDVSA. US and Venezuelan flags stood side by side as Wright and Rodríguez navigated a maze of compressors, pipelines, and storage tanks – an image rich with symbolism.
For years, Venezuela’s vast oil reserves, officially the largest in the world, have been both a blessing and a curse. Under Maduro and his predecessor Hugo Chávez, aggressive nationalization policies, threats of expropriation, and chronic mismanagement pushed production into steep decline. Sanctions and underinvestment compounded the damage. Wright framed the renewed cooperation as pragmatic rather than political. Speaking from the facility, he highlighted more than $100 million in planned upgrades aimed at increasing output. Production in the specific field visited is expected to double within 12 to 18 months, with the potential to quintuple over five years. “This is the path of cooperation”, Rodríguez said during the visit, echoing a tone strikingly different from her rhetoric only weeks earlier, when she rejected what she described as Washington’s “mandates”.
The thaw comes with clear strategic calculations on both sides. Wright was candid about the leverage the US now holds. By controlling access to global oil markets and financial systems, Washington effectively determines the flow of Venezuela’s primary source of revenue. “The leverage we have is we control the flow of the dominant industry of Venezuela”, Wright noted. His message was clear: cooperation brings investment and recovery; confrontation could mean renewed isolation.
For Rodríguez, whose interim government is navigating a delicate transition, economic revival is essential. Oil accounts for the overwhelming majority of Venezuela’s export earnings. Restoring production is not merely a financial imperative but a political one, as the country struggles to stabilize after years of economic collapse and mass migration. More than seven million Venezuelans left the country during the prolonged crisis, seeking refuge across Latin America and beyond. Reviving the oil sector could generate jobs, restore public services, and potentially encourage some expatriates to return.
The visit was part of a broader two-day trip that included a formal reception at the Miraflores presidential palace in Caracas. It also marked the first time in eight years that US media were allowed to visit a Venezuelan oil field – a sign of how severely relations had deteriorated since diplomatic ties were severed in 2019.
Joining the delegation was US Chargé d’Affaires Laura Dogu, who recently relocated to Caracas to help rebuild bilateral channels. Her presence underscored Washington’s intention to reestablish a functional diplomatic footprint, even as it stops short of fully recognizing Rodríguez’s administration as legitimate. That ambiguity remains a central tension. The US does not formally recognize Rodríguez’s government, and protests calling for new elections were reported in Caracas even as the oil tour unfolded. The path to democratic normalization remains uncertain. Wright acknowledged the complexity, stating that political outcomes would ultimately be determined by the Venezuelan people. Still, he defended the decision to move forward with energy investments before elections are held, arguing that economic stabilization is a prerequisite for broader reforms.
Venezuela’s oil infrastructure tells the story of decades of boom and bust. Once among the world’s leading producers, the country saw output plummet due to corruption, lack of maintenance, and the departure of foreign expertise.
Chevron’s century-long presence in Venezuela offers a measure of continuity. Rodríguez praised the company’s performance, describing it as “fantastic work”. Yet other foreign investors remain cautious. ConocoPhillips CEO Ryan Lance recently suggested that any meaningful reset would require repayment of outstanding debts incurred under previous administrations.
To signal openness to business, Venezuela’s National Assembly recently passed reforms to its hydrocarbon law aimed at attracting foreign capital. Lawmakers have also advanced plans for amnesty measures affecting political prisoners, gestures interpreted by some as attempts to reassure international partners.
Despite the celebratory tone of Thursday’s visit, challenges loom large. Years of authoritarian governance under Maduro left Venezuela ranking near the bottom globally in measures of democracy and rule of law. Rebuilding institutions will require sustained effort beyond the oil sector. The broader geopolitical implications are equally significant. President Donald Trump described the evolving relationship as “extraordinary”, hinting at the possibility of even higher-level engagement in the future. Yet for ordinary Venezuelans, the stakes are more immediate. At the Petropiar facility, an oil worker expressed hope that renewed investment might persuade former colleagues to return home – though she requested anonymity, wary of lingering political sensitivities.
As the tour concluded, Wright lifted a glass flask filled with Venezuela’s heavy crude, examined it, and kissed it before the cameras. The gesture drew applause from those gathered, capturing a moment that felt, at least symbolically, like the start of a new chapter.
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