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Chevron Corp. Chief Executive Officer Mike Wirth said changes to Venezuela’s oil policy are a sign of progress in trying to attract foreign investment, though further measures are needed.
“It moves things in a positive direction,” Wirth said on CBS’ Face the Nation. “It still needs some work. It’s probably not enough to bring in the level of investment that would be desirable. So I think there’s progress that’s been made.”
Wirth expressed confidence in the Trump administration’s Venezuela policy after the US toppled Nicolás Maduro in January and Delcy Rodríguez became the country’s acting president. Within weeks after Maduro’s capture, Venezuela changed its long-standing nationalist oil policy in a bid to entice investors.
A group of US oil executives who met Rodríguez in Caracas last week pressed for assurances that Venezuela was safe to invest in, a sign that interest among US oil companies is growing beyond Chevron and other majors as President Donald Trump calls for a revival of production in Venezuela.
English (US) ·