US, Venezuela Reach ‘Biggest Oil Deal’ in World, Says Trump
- On Friday, President Trump announced an oil deal with Venezuela granting the United States majority control of 65 billion barrels of proven petroleum reserves through private American firms.
- Facing high gasoline prices and a 40-year low in the strategic petroleum reserve, the administration sought increased oil supplies; Axios reported Thursday the deal targets a dozen fields with 90 billion barrels of proven reserves.
- The deal will bring nearly $100 billion in private investment to Venezuela, which interim leader Delcy Rodriguez called a "historic agreement." President Trump said Secretary of State Marco Rubio and Defense Secretary Pete Hegseth reached it through private business.
- Energy expert John Kilduff at Again Capital said the goal is "to establish a sort of state zone where US companies can go in, operate, and not be impacted," minimizing political risk. Researcher Jorge Pinon noted the agreement remains unconventional.
- Chevron, the only American company currently operating in Venezuela, plans to increase daily crude production by 50 percent by 2028. Many questions remain regarding infrastructure investments and how oil assets would be transferred to the United States.
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What we know about Trump’s deal giving US access to vast oil reserves in Venezuela - WSVN 7News | Miami News, Weather, Sports
WASHINGTON (AP) — Besides a social media post from President Donald Trump, the White House has said little about what he is calling “THE BIGGEST OIL DEAL IN...
What we know about Trump’s deal giving US access to vast oil reserves in Venezuela - Boston News, Weather, Sports
WASHINGTON (AP) — Besides a social media post from President Donald Trump, the White House has said little about what he is calling “THE BIGGEST OIL DEAL IN...
Trump's Venezuelan oil deal: What we know and how it could impact Canada
Several questions about the U.S. deal to develop vast Venezuelan oil reserves remain unanswered, and a rapid and large-scale increase in production is unlikely. But experts say increased exports from Venezuela "would compete directly with Canadian crude in the U.S. Gulf Coast market."
Trump announces ‘historic’ US-Venezuela oil deal that he says will lower gas prices - Regional Media News
(WASHINGTON) - President Donald Trump announced Friday that the U.S. and Venezuela have reached a "historic" oil deal that he said would give the U.S. a majority control of billions of barrels of oil reserves in the Caribbean country and lower gas prices for Americans. [...]
"One of the most worrying aspects is that this move does not explicitly mention the democratic transition," he explains in analyzing the agreement between Donald Trump and Delcy Rodríguez Read
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