Exxon 'Going in' to Venezuela, Trump Says in Touting Oil Deals (XOM:NYSE)
- Late last week, Venezuela President Donald Trump announced an agreement to develop 17 oil fields in Venezuela, describing it as the "biggest oil deal in the world."
- Acting President Delcy Rodriguez clarified the 25-year agreement targets production of 1.5 million barrels per day, potentially generating roughly $209 billion in revenue for Venezuela at a baseline price of $65 a barrel.
- Venezuelan businessman Alejandro Betancourt led negotiations as the "unnamed private developer," though he faces money laundering allegations in Switzerland, Spain, and the United States, with a Swiss extradition request dropped earlier this year.
- Trump touted the agreement to refill the Strategic Petroleum Reserve, which has dropped 3.1 million barrels since last week to about 286.8 million barrels, the lowest level since late 1982.
- Separately, the president criticized public backlash against data centers on Truth Social and labeled Iran a "failed nation," remarks coinciding with midterm election tensions regarding energy infrastructure and foreign policy.
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26 Articles
Analysis by Alfredo Meza, CNN en Español At least in the thick outline, the historic oil agreement between the United States and Venezuela is posed as a promising bet for the citizens of both countries. But the saying maintains that the devil is in the details, which are not yet known, and in the evolution of
The oil agreement with Venezuela announced this Friday by Donald Trump is one of the most controversial measures.
President Trump will meet with representatives of refiner as after announcing an agreement to obtain part of the Venezuelan petr leo.
Daily on Energy: What we know about the US-Venezuela oil deal
WHAT’S HAPPENING TODAY: Good afternoon and happy Monday, readers! August is coming to an end and we hope you all had a great month! Here in Washington, D.C., members of the House of Representatives will be making their way back to the Capitol. Callie and Maydeen will be keeping a close eye on lawmakers before […]
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