U.S. Energy Secretary: U.S. May Utilize Export-Import Bank to Support Venezuelan Oil Projects

Deep News01-09

U.S. Energy Secretary Chris Wright stated that there is a "real possibility" the United States could use its Export-Import Bank to help finance major oil projects in Venezuela, ahead of President Donald Trump's meeting with oil industry executives late Friday.

Wright, in an interview with Fox News, said President Trump would help create the conditions allowing oil companies to operate in Venezuela, but that the majority of the investment would be completed by commercial capital. He also noted that oil companies had not yet asked the government for money.

When asked if the U.S. would take equity stakes in these companies, as it has in other industries, Wright replied, "There has been no conversation about that yet."

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