As Venezuela’s political crisis reaches a U.S. courtroom this week, Houston oil giants say they are monitoring the situation but stopping short of predicting how it could affect energy prices.
KPRC 2 has reached out to major oil companies with Houston ties following fast-moving developments in Venezuela and the capture of former President Nicolás Maduro.
Chevron, now headquartered in Houston, released the following statement to KPRC 2:
“Chevron remains focused on the safety and wellbeing of our employees, as well as the integrity of our assets. We continue to operate uninterrupted and in full compliance with all relevant laws and regulations.”
The company did not directly address operations or future plans in Venezuela.
ConocoPhillips also responded to KPRC 2, saying:
“ConocoPhillips is monitoring developments in Venezuela and their potential implications for global energy supply and stability. It would be premature to speculate on any future business activities or investments.”
Could oil and gas prices rise?
Energy analysts say oil prices have not yet spiked dramatically following Maduro’s capture, but changes could come as the situation continues to unfold. If global oil prices increase, drivers could eventually see higher prices at the pump.
Former Venezuelan President Nicolás Maduro is scheduled to make his first court appearance in New York within hours.
Meanwhile, President Donald Trump is asserting that the United States is now in charge of Venezuela, adding that the country’s interim president, former Vice President Delcy Rodríguez, is cooperating with U.S. authorities.