Energy Secretary Chris Wright acknowledged in a nationally televised interview that American businesses may soon hold financial stakes in Venezuelan oil assets following the unprecedented auction of Citgo Petroleum shares, positioning U.S. investors and refiners at the center of a historic energy realignment.

Appearing on CBS News’ “Face the Nation” with Margaret Brennan, Wright was asked whether the United States government or American investors might end up owning portions of Venezuelan oil companies, referencing a high-profile bid by a hedge fund reportedly led by Trump donor Paul Singer to acquire Citgo Petroleum. Wright emphasized that such outcomes will be driven by private American businesses participating in the auction and broader energy sector, not by direct government ownership. 

“The Citgo sale is part of… bringing redress to creditors of the United States for the Venezuelan Government,” Wright said, explaining that the auction process transfers Venezuelan-owned refineries in the United States to American owners through lawful, court-supervised bidding. He described the participation of U.S. investors, refining entrepreneurs, and capital providers as a positive development for the domestic industry and broader economic interests. 

The Citgo auction stems from a long-running legal effort to satisfy more than $20 billion in creditor claims against the Venezuelan government and its state oil firm. A U.S. judge has already approved a bid from an affiliate of Elliott Investment Management in the process of resolving those claims, and the transaction remains subject to regulatory approval. 

Wright stressed that decisions about ownership and investment will be made by private American interests in the marketplace, and rejected suggestions that preferential treatment is being afforded to any particular group of bidders. He framed the broader policy as part of the Trump Administration’s effort to integrate Venezuelan oil resources into the U.S. energy market, boost domestic refining activity, and reduce fuel prices for American consumers. 

The discussion reflects how recent U.S. policy has shifted in the wake of changes to Venezuela’s political landscape, with American control over the sale and marketing of Venezuelan crude giving domestic firms unprecedented access to the country’s vast energy reserves. Wright’s remarks underline the administration’s goal of expanding U.S. energy leadership through market-driven investment and private sector engagement.