Citizens View US Stake in Oil Reserves as a Surrender
The deal gives a joint venture 100-year rights to 17 oil fields with 65 billion barrels of proven reserves, experts say.
- On Aug. 28, President Delcy Rodriguez granted a United States-linked joint venture 100-year rights over 17 oil fields, securing United States control over 65 billion barrels of proven oil reserves.
- Following the Jan. 3 United States military invasion and capture of President Nicolas Maduro, Rodriguez assumed leadership and enabled the shift toward United States energy partnerships.
- Collaborating with Alejandro Betancourt, whose family controls North American Blue Energy Partners, the arrangement places 21.5% of Venezuela's proven reserves under United States control.
- While some citizens express cautious optimism regarding economic revitalization, critics warn the agreement violates Article 303 of the Venezuelan Constitution, which mandates state ownership of hydrocarbons.
- The pact aligns with United States efforts to enforce the Monroe Doctrine and reduce OPEC's influence, though experts note infrastructure degradation means significant production increases will take years.
13 Articles
13 Articles
Trump says oil deal struck with Venezuela
WASHINGTON, D.C. — President Donald Trump said last week that his administration has entered a sweeping agreement with Venezuela that, if realized, could give the U.S. access to vast amounts of the South American country’s untapped oil reserves, at cost. Trump in a social media post announcing the
U.S. company will explore oil in Venezuela The U.S. announced on Friday (28/08) an agreement with Venezuela that can guarantee Washington access to about 20% of the South American country's proven oil reserves. Presented by President Donald Trump as the "best oil deal in history", the initiative involves 17 fields with estimated potential of 65 billion barrels and places at the center of the operation the oil company North American Blue Energy P…
Venezuela hands over oil production and reserves to the U.S.
President Donald Trump on Aug. 28 announced via social media an agreement with Venezuela that puts a sizable portion of that country’s oil production and oil reserves under U.S. control. In a six-minute television address the next day, acting Venezuelan President Delcy Rodríguez commented on Trump’s remarks. Two days later, the text of the agreement […]
The Real Story: How the New U.S.-Venezuela Oil Agreement Impacts Consumers
SOUTH BEND, Ind. -- In a social media post, President Trump said Secretary of State Marco Rubio and Defense Secretary Pete Hegseth worked with the Interim President of Venezuela, Delcy Rodriguez, through a partnership with private business to get control of more than 65 billion barrels of oil reserves in Venezuela.
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