The Latest: Trump Oil Deal Raises Questions, Vance and Bessent Seek to Reassure Allies
The deal gives Washington control over 65 million barrels of crude and could bring new investment to Venezuela’s oil sector, officials said.
- Washington took a majority stake in a new company holding rights to 65 million barrels of Venezuelan crude, representing one-fifth of Venezuela's total proven reserves.
- The deal aims to secure investment in the dilapidated Venezuelan oil industry while boosting energy security and generating tax revenues for economic development.
- Acting president Delcy Rodriguez struck the agreement with Washington after the government deposed the former leader Maduro.
- Venezuelan hardliners view the arrangement as capitulation while opposition groups label it illegitimate, creating widespread unpopularity.
- Experts question the legality of the agreement, noting there is little precedent for one government maintaining direct control over another's oil resources.
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33 Articles
Trump says Exxon is ‘going in’ to Venezuela as US pushes oil deals
By Sheila Dang HOUSTON, Aug 31 (Reuters) - U.S. President Donald Trump said Monday that ExxonMobil, the largest U.S. oil major, was among a group of companies planning to do business in Venezuela. Exxon declined to comment. Any entrance into the Sout...
Trump’s Venezuela oil deal raises new questions for Alberta crude - Thoughtful Journalism
A new U.S.-Venezuela oil agreement could reshape heavy-crude competition by giving Washington a direct interest in Venezuelan production and preferential access to some of the barrels. [Read more] The post Trump’s Venezuela oil deal raises new questions for Alberta crude appeared first on Thoughtful Journalism.
The Venezuelan coalition asks for clarity about the oil pact with the US, seeking to ensure benefits for the population and the country.The historic agreement grants Washington significant control of reserves, while a production of 1.5 million barrels per day is projected.
The Latest: Trump oil deal raises questions, Vance and Bessent seek to reassure allies – WTOP News
Venezuelans are expressing outrage and the oil industry is waiting for details on President Donald Trump’s announcement that Venezuela ’s acting president has agreed to give an unnamed U.S. company control of vast amounts of the South American country’s untapped oil reserves, at cost. Trump called it “THE BIGGEST OIL DEAL IN WORLD HISTORY!” but...
The US stakes its claim on Venezuelan oil fields, Greece inks a massive weapons deal with Israel, Russia comes to Niger’s rescue
US strikes controversial Venezuela oil dealThe US government will take a majority stake in a new company that has the rights to develop 65 million barrels of Venezuelan crude, or about one-fifth of the country’s total proven reserves. The deal aims to secure massive investment in the dilapidated Venezuelan oil industry, boost US energy security, and yield huge new tax revenues for the Venezuelan government to spend on economic development. But i…
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