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U.S. Nears Deal to Secure Long-Term Access to Venezuela’s Oil Reserves, Sources Say
- 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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46 Articles
46 Articles
U.S. nears deal to secure long-term access to Venezuela’s oil reserves, sources say
Trump administration officials are working on a deal to secure long-term access to a portion of Venezuela’s crude reserves, sources with knowledge of the negotiations said on Thursday, a move that could ultimately lower the cost of oil imports.
·Toronto, Canada
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U.S. close to striking 'massive' deal for Venezuelan oil fields - Axios (CVX:NYSE)
The Trump administration is in talks with Venezuela's government about taking an ownership stake in the country's enormous oil resources that could more than double current US oil reserves
·Ra'anana, Israel
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The United States negotiates with the Interim Government of Venezuela to obtain a significant participation in several oil fields.
·Madrid, Spain
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Total News Sources46
Leaning Left6Leaning Right14Center10Last UpdatedBias Distribution47% Right
Bias Distribution
- 47% of the sources lean Right
47% Right
L 20%
C 33%
R 47%
Factuality
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