US Energy Secretary Chris Wright on Wednesday dismissed claims that Washington was “stealing Venezuelan oil” after the South American nation granted its northern neighbor access to a huge chunk of its natural resources.
Wright, who traveled to Venezuela to oversee the signing of a series of energy deals worth billions of dollars, sought to dispel criticism in comments made to AFP and other outlets at Caracas airport.
The United States is due to take majority control of more than 65 billion barrels — almost 20 percent — of oil in Venezuela, which holds the largest proven reserves in the world.
Caracas has projected earnings of $209 billion over 25 years from the accord.
“I’ve seen those headlines. ‘We’re stealing Venezuelan oil.’ Of course, that’s not true at all,” Wright said, adding that “the oil in Venezuela is indeed owned by the people of Venezuela.”
