ConocoPhillips and Exxon Explore Venezuela Role, Wright Says (1)

ConocoPhillips, Exxon Mobil Corp. and other US oil companies are examining what role they can play in helping revitalize Venezuela’s energy industry, US Energy Secretary Chris Wright said following talks with executives.

“Maybe we’ll get to a framework where they’ll go in in a large way again, but in the meantime, they’re not going to sit on their hands,” Wright said Thursday on Fox Business Network. He added that Chevron Corp., the only US oil major still operating in the country, is expected to ramp up its operations in Venezuela quickly.

Wright’s comments come as US President Donald ...