{
  "id": 5226323,
  "title": "US not 'stealing Venezuelan oil', energy secretary insists",
  "url": "https://urgent.news/2026/09/03/us-not-stealing-venezuelan-oil-energy-secretary-insists",
  "topic": "world",
  "section": "World",
  "published": "2026-09-03T02:35:00.000Z",
  "source": {
    "name": "Channel News Asia",
    "slug": "channel-news-asia",
    "url": "https://www.channelnewsasia.com/world/us-not-stealing-venezuela-oil-energy-secretary-chris-wright-6359301"
  },
  "original_language": "en",
  "account": "US Energy Secretary Chris Wright has firmly denied allegations that the United States is stealing Venezuelan oil, emphasizing that the benefits of the oil, including royalties and taxes, remain solely with the Venezuelan government and its people. During a visit to Caracas to sign a series of energy deals worth billions of dollars, Wright sought to quell criticism and explain the true nature of the arrangement.\n\nThe US government is set to gain control over over 65 billion barrels of oil, which accounts for nearly 20% of Venezuela's proven reserves, valued at a potential US$209 billion over the next 25 years. Wright clarified that private oil companies are being paid to produce the oil, but the profits are directed back to Venezuela and its residents. He stressed that their role is merely to inject capital and technology to develop this previously idle resource.\n\nWright also highlighted the need to address Venezuela's ongoing electricity crisis, with many parts of the country facing daily power outages, which is crucial for the oil sector's operation. He expressed confidence in the existing infrastructure in Venezuela, believing it can be revived under a five-year plan.\n\nMeanwhile, US President Donald Trump has hailed the deal as the \"biggest oil deal in world history,\" while the US leader earlier dismissed calls for elections in Venezuela, stating that the interim government and opposition need time to prepare. Wright reiterated that elections are a process and cannot be rushed, emphasizing that Venezuela must first stabilize its infrastructure before proceeding with a popular vote.",
  "summary": null,
  "key_points": [
    "US Energy Secretary Chris Wright denies US is stealing Venezuelan oil",
    "US will control 65 billion barrels of oil, 20% of Venezuela's reserves",
    "Profits from oil go to Venezuela and its residents, not US"
  ],
  "editors_take": "The US energy deal with Venezuela redirects oil profits to the Venezuelan government and people, while the US gains access to a massive resource, amid ongoing electricity and political challenges.",
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "Free Malaysia Today",
        "title": "US not ‘stealing Venezuelan oil’, energy secretary insists",
        "url": "https://urgent.news/2026/09/03/us-not-stealing-venezuelan-oil-energy-secretary-insists-5231894",
        "published": "2026-09-03T02:27:00.000Z"
      },
      {
        "outlet": "Malay Mail",
        "title": "US not ‘stealing Venezuelan oil,’ energy secretary insists amid multi‑billion‑dollar pact with Caracas",
        "url": "https://urgent.news/2026/09/03/us-not-stealing-venezuelan-oil-energy-secretary-insists-amid-multi",
        "published": "2026-09-03T03:55:48.000Z"
      },
      {
        "outlet": "New Straits Times",
        "title": "US not 'stealing Venezuelan oil,' energy secretary insists",
        "url": "https://urgent.news/2026/09/03/us-not-stealing-venezuelan-oil-energy-secretary-insists",
        "published": "2026-09-03T04:00:11.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}