Orban: US involvement in Venezuela is good for energy markets
The U.S. decision that led to the ouster of Venezuelan President Nicolas Maduro should have a positive effect on the world's energy markets, said Hungarian Premier Viktor Orban on Monday. He added that both Venezuela and the U.S. would control half of all global oil reserves.
Special Forces, the largest U.S. intervention since 1989's invasion of Panama in Latin America, swooped in on Caracas with helicopters over the weekend to apprehend Maduro and then take him to New York for a drug charge.
Orban's ally Donald Trump of the United States, who exempted Hungary for 2026 from U.S. energy sanctions, made it clear that he wanted to share in Venezuela's oil wealth.
Orban told a news conference held for international media that the United States will, in my estimation, be able, with Venezuela, to control between 40-50% the world's reserves of oil.
"This is already a power capable of significantly influencing world energy market prices... "I see a'strong chance' that bringing Venezuela under better control will result in a more favourable global energy scenario for Hungary. That is good news."
Budapest has angered a number of?fellow European Union and NATO members by?continuing imports of Russian oil and gas. Budapest, while insisting on the need for this import, has also taken steps to diversify its supplies.
The state-owned MVM Group signed a five-year agreement with U.S. Energy Company Chevron in December for the supply 2 billion cubic meters of liquefied gas. (Reporting and editing by Bernadettebaum, Anita Komuves, GergelySzakacs)
(source: Reuters)
