U.S. close to striking "massive" deal for Venezuelan oil fields: Axios
The reported agreement would give U.S. firms control of fields holding about 90 billion barrels of proven reserves, Reuters and Axios said.
- According to Axios, the Trump administration is negotiating to acquire direct ownership stakes in Venezuelan oil fields containing approximately 90 billion barrels of proven crude to extend influence on Venezuela's interim government.
- With the U.S. SPR at historic lows and Middle East transit routes threatened, the White House is shifting its 'Energy Dominance' paradigm from domestic deregulation toward direct resource control within the Western Hemisphere.
- The targeted fields represent a strategic slice of Venezuela's 303-billion-barrel reserve base, with discussions focused on a dozen productive oil fields and 100-year-lease arrangements on areas previously controlled by China and Venezuelan state interests.
- Energy Secretary Chris Wright is scheduled to meet with officials in Caracas next week to discuss field rehabilitation, while independent operators including SLB, Hunt Oil, and California-based Pacific Coast Energy Company are finalizing development agreements with PDVSA.
- Legacy underinvestment under PDVSA has left infrastructure degraded with current production at 1.25 million barrels per day, and analysts warn that meaningful improvement will require around $180 billion through the next decade until legal frameworks stabilize.
153 Articles
153 Articles
The United States has reached an agreement with Venezuela and will acquire a majority stake in 17 oil fields. While President Trump speaks of a "historic deal," there are questions regarding the implementation.
The United States analyzes an alliance between the Pentagon and businessman Alejandro Betancourt to obtain participation in up to 17 oil fields in Venezuela.
US President Donald Trump stated that they had reached 'the biggest oil deal in world history' with Venezuela and gained control over a large portion of Venezuela's more than 65 billion barrels of oil reserves. In a statement on his social media account, President Trump said that the US State Department...
Negotiations Could Give US Stake in Venezuelan Oil Fields
The Trump administration has its eye on a chunk of Venezuela's oil patch that would dwarf most energy deals on the planet. Talks are in progress over long-term rights to about a third of Venezuela's reserves—roughly 90 billion barrels—aimed at giving US companies more incentive to drill in...
Reports of Washington's quest for a large and long-term share of Venezuela's oil fuelled the opposition and raised fears that the country's wealth would become an instrument of American domination.
Coverage Details
Bias Distribution
- 48% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
