Oil Companies in ‘Active’ Talks Over Recouping Venezuela Losses
A refinery in Puerto Cabello, Carabobo state, Venezuela.
Photographer: Ronaldo Schemidt/AFP/Getty ImagesConocoPhillips and other energy companies that lost billions of dollars after Venezuela nationalized its oil industry decades ago are in talks with acting Venezuela President Delcy Rodríguez over recouping some ground, according to US Energy Secretary Chris Wright.
“They are in active discussions with ConocoPhillips — the people that lost assets in the before, are all in active dialogs right now,” Wright said Thursday in an interview on Bloomberg Television. “What’s the right way forward? How to get to recompense for that money they’re owed and hopefully entice them to come back into the country and grow production?”