Introduction 1-US Energy Secretary: America and China can balance roles in Venezuela

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- U.S. Energy Secretary Chris Wright said there is room to balance roles for both the United States and China in Venezuela to allow trade, but Washington will not allow Beijing too much control in the Latin American country.

In an interview with Fox Business Network, Wright also explained that he expects Chevron to rapidly increase its activities in Venezuela, with ConocoPhillips and ExxonMobil also looking to play a role in the sector.

He added, "I think we're likely going to see some long-term Chinese involvement in Venezuela. As long as America is the dominant power there, and with the rule of law, and (as long as) the United States controls the flow of oil, that's fine."

He continued, "Is there a balance that can be achieved with China? I think so."

He went on to say, "In this context, and considering that Venezuela's main partner is the United States, can there be trade with China? (This is) certain. Will we allow Venezuela to become a client state of China? Absolutely not."

Wright also said he had been speaking with executives from major U.S. oil companies since Saturday and that many were disappointed not to have been invited to Friday's industry meeting at the White House, but he did not name any of them.


(Prepared by Sherine Abdel Aziz and Ahmed Hesham for the Arabic Bulletin - Edited by Ayman Saad Muslim)