🏛️🤝 US–Venezuela energy thaw: Oil embargo 'essentially over'

Oneliner

U.S. Secretary of Energy Chris Wright announced on February 11, 2026, that the U.S. embargo on Venezuelan oil is "essentially over," during a historic visit to Caracas. This marks a significant shift in U.S.-Venezuela relations following the capture of Nicolás Maduro. A long-term energy agreement aims to boost oil production and attract foreign investment, facilitated by recent reforms to Venezuela's Hydrocarbons Law. Acting President Delcy Rodríguez emphasized the importance of diplomatic dialogue and cooperation, as both countries seek to enhance their energy partnership.

Key points

• US Energy Secretary Chris Wright declares the end of the 2019 oil embargo on Venezuela.
• A long-term energy agreement aims to boost Venezuelan oil production and attract foreign investment.
• The recent reform of Venezuela's Hydrocarbons Law facilitates private sector involvement in oil production.
• Delcy Rodríguez expresses commitment to diplomatic dialogue and energy cooperation with the US.

Links

• El Mundo: El secretario de Energía de EEUU visita Venezuela para profundizar sobre el petróleo
• Deutsche Welle: EE.UU.: embargo a crudo venezolano "esencialmente terminó"
• El Mundo: Mensaje de Trump a Venezuela: "Traeremos trabajo y prosperidad"
• BFMTV: Un ministre de Trump réclame au Vénézuéla une "augmentation spectaculaire" de la production de pétrole (et promet que les bénéfices seront partagés)
• BFMTV: Le pétrole vénézuélien sous contrôle américain
• Público: Venezuela y EEUU sellan un acuerdo en materia energética a largo plazo
• Deutsche Welle: Delcy Rodríguez: "Me han invitado a Estados Unidos"

Facts

• Chris Wright's visit to Caracas is the highest-level U.S. trip focused on energy policy in nearly three decades.
• The U.S. embargo on Venezuelan oil was imposed in 2019 under President Donald Trump.
• Venezuela's Hydrocarbons Law reform allows private companies to control oil production and sales.
• Venezuela produced 1.2 million barrels per day in 2025, up from a historic low of about 360,000 b/d in 2020.

Quotes

• We are on the threshold, at a turning point in history — Chris Wright
• This year we can drive a dramatic increase in Venezuelan oil production — Chris Wright
• Let it be diplomatic dialogue, political dialogue, energy dialogue — Delcy Rodríguez

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