U.S. won’t provide security for oil operations in Venezuela, says Wright

(Bloomberg) – The U.S. has no plans to offer security guarantees to oil companies that plan to operate in Venezuela, Energy Secretary Chris Wright said Thursday. 

“We are not going to get involved in providing on the ground security for people in Venezuela,” Wright said during an interview with Bloomberg Television. “Oil and gas companies operate all around the world in all different settings, they’re well versed in those challenges.” 

Physical and financial security have been among the top concerns of firms hesitant to commit to investing in Venezuela. U.S. President Donald Trump has called on American companies to help rebuild the South American country’s beleaguered oil sector following the Jan. 3 capture of strongman Nicolás Maduro.

See also: Trump ally says Venezuela must guarantee oil assets to attract U.S. producers