Bessent says largest oil companies are likely to move slower in Venezuela

MINNEAPOLIS, Jan 8 (Reuters) - The largest oil companies are likely to move slower in terms of making investments in Venezuela, with wildcatters or independent oil companies likely to move much more quickly, U.S. Treasury Secretary Scott Bessent said on Thursday.

Bessent, speaking to the Economic Club of Minnesota, said Treasury's role would be to remove sanctions on various entities in Venezuela, while imposing new sanctions on others.

"And then Treasury will oversee - as the asset sales of the oil are done - Treasury will oversee the account," Bessent said, adding Treasury would handle disbursement of funds back into Venezuela at the direction of President Donald Trump and Secretary of State Marco Rubio.