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.
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Reports Put 17 Venezuela Oil Fields on the Table in US Talks
Reports say the United States seeks long-term rights over 17 Venezuela oil fields, with one outlet citing a 100-year lease. Neither government has confirmed anything. The post Reports Put 17 Venezuela Oil Fields on the Table in US Talks appeared first on The Rio Times.
The government of Donald Trump completes a negotiation with Venezuela so that the U.S. acquires a considerable share of its huge oil reserves. This is revealed by information from several U.S. media, in an operation that would be historic and that would involve an intervention in the natural resources of another country unprecedented in the U.S.. According to 'Axios', the first medium to give details of the negotiation, the operation would doubl…
90 Billion Barrels at Stake: US Government Is Probably on the Verge of Oil Agreements with Venezuela
Does the US government succeed in the next deal? According to insiders, negotiations to secure Venezuelan oil are in full swing. For President Trump, cheap oil imports would be of great importance in view of the upcoming interim elections.
The US wants to secure access to Venezuela's huge oil reserves – through direct government participations. The project is controversial.
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