Venezuela's interim president says US energy deal will last 25 years
The agreement could draw $100 billion in investment and yield more than $209 billion in taxes, Venezuelan officials said.
- On Friday, President Donald Trump announced a deal granting the United States rights to Venezuela's untapped oil fields for 100 years, including a provision to exert control over the South American company.
- Negotiators revealed the United States government plans to take a 35% passive stake in North American Blue Energy Partners, a structure deliberately designed to bind future Venezuelan governments to the agreement.
- While President Delcy Rodr claims the projects will generate $209 billion in taxes on 65 billion barrels of oil, former cabinet minister Diego Arria called the arrangement 'absolutely unconstitutional because it's an illegitimate government.'
- Members of opposition leader Corina Machado's Vente party denounced the deal, with Jos Amalio Graterol stating it 'has no validity whatsoever' since the agreement was negotiated without Venezuela's opposition involvement.
- Eurasia Group's Risa Grais-Targow noted the deal might diminish incentives for a new vote, prioritizing stability over political transition, while Rodr faces pressure balancing Washington ties against decades of resource nationalism.
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241 Articles
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Venezuela says it retains control of oil under US deal
Interim leader Delcy Rodriguez assured the public on Saturday that Venezuela retains control of its oil under a new agreement that allows the United States significant access to it. The United States will have majority control of 65 billion barrels of Venezuela’s proven reserves in what President Donald Trump described Friday as “the biggest oil Read More: https://punchng.com/venezuela-says-it-retains-control-of-oil-under-us-deal/
The president in charge accounted for more than US$209 billion in the revenues the state would receive during the project, which contemplates the development of 17 fields and a production of more than 1.5 million barrels per day.
As Saturday night fell, and with part of the country in the dark as a result of a new power cut, the televisions that could be turned on and the phones properly charged could follow Delcy Rodríguez's intervention. The "president in charge" tried to establish the position of the provisional government on the agreement with the United States that will allow that country to have control of 22% of the Venezuelan reserves, which represents about 65 b…
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