Venezuela’s oil sales will generate $5 billion in months: US Energy Secretary

Interim Venezuelan President Delcy Rodríguez, US Energy Secretary Chris Wright, and US chargé d’affaires Laura Dogu visit the oil production facilities of the joint venture between Chevron and state oil company PDVSA in the Orinoco Oil Belt, Maturín, Monagas State, Venezuela. February 12, 2026. Miraflores Palace / via REUTERS. EDITORS’ NOTE - THIS IMAGE WAS PROVIDED BY THIRD PARTIES · Reuters

By Sheila Dang and Timothy Gardner

Fri, February 13, 2026, 6:22 a.m. GMT+9 1 min read

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By Sheila Dang and Timothy Gardner

Feb 12 (Reuters) - US-controlled Venezuelan oil sales have totaled over $1 billion so far and will generate another $5 billion in the coming months, US Energy Secretary Chris Wright told NBC News on Thursday.

Much of the oil is being processed in US refineries, and the administration of US President Donald Trump has handed over the proceeds from the sales to the interim Venezuelan government, he added.

Washington will control these sales and the flow of funds “until a representative government is established in Venezuela,” Wright said in the NBC News interview.

He also added that “very likely” free elections will be held before the end of Trump’s second term.

(Reporting by Sheila Dang in Houston and Timothy Gardner in Washington)

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