A delegation of Trump administration officials will travel to Venezuela in the coming days to seek further changes to the country’s oil sector law as part of its effort to help attract international oil investment, according to two people familiar with the plans.
The trip marks another step in the Trump administration’s aggressive campaign to persuade international oil companies to return to Venezuela. While some companies have signaled early interest to help tap the South American nation’s vast reserves, they continue to harbor major concerns about the nation’s legal and political situation.
Venezuela’s interim government passed broad changes to its hydrocarbon law in January, weeks after the U.S. raid that seized former leader Nicolás Maduro. Companies and U.S. officials have said the reforms were positive but didn’t go far enough to attract the billions of dollars in investment needed to revitalize the nation’s dilapidated oil sector.
The Trump administration delegation is not expected to include high-level officials, but will include representatives from the White House’s National Energy Dominance Council and the State Department.
