US expects Venezuelan crude oil sales to exceed $10 billion annually
US Secretary of Energy Chris Wright estimated this Tuesday that Venezuelan crude oil sales managed by Washington could exceed $10 billion annually, income that would help 'rebuild' the South American country after the departure from power of deposed president Nicolás Maduro. 'So far we have sold around $1 billion in oil. We have recently signed agreements to sell another $5 billion in the coming months. So we are talking about well over $10 billion a year,' Wright told Fox News.
TL;DR
- US-managed Venezuelan crude oil sales are projected to exceed $10 billion annually.
- These funds are intended for Venezuela's reconstruction, restoration of a free press, and establishment of a representative government.
- The agreement will provide a specific type of crude oil for US refineries built in the 1970s.
- The sales will also help US asphalt production, reducing road construction costs.
- US Secretary of Energy Chris Wright met with interim Venezuelan President Delcy Rodríguez to advance an energy pact.
- Washington will indefinitely control the sale of Venezuelan crude oil.