The Latest: Trump Oil Deal Raises Questions, Vance and Bessent Seek to Reassure Allies
The deal gives Washington control over 65 million barrels of crude and could bring new investment to Venezuela’s oil sector, officials said.
- Washington took a majority stake in a new company holding rights to 65 million barrels of Venezuelan crude, representing one-fifth of Venezuela's total proven reserves.
- The deal aims to secure investment in the dilapidated Venezuelan oil industry while boosting energy security and generating tax revenues for economic development.
- Acting president Delcy Rodriguez struck the agreement with Washington after the government deposed the former leader Maduro.
- Venezuelan hardliners view the arrangement as capitulation while opposition groups label it illegitimate, creating widespread unpopularity.
- Experts question the legality of the agreement, noting there is little precedent for one government maintaining direct control over another's oil resources.
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19 Articles
The Latest: Trump oil deal raises questions, Vance and Bessent seek to reassure allies – WTOP News
Venezuelans are expressing outrage and the oil industry is waiting for details on President Donald Trump’s announcement that Venezuela ’s acting president has agreed to give an unnamed U.S. company control of vast amounts of the South American country’s untapped oil reserves, at cost. Trump called it “THE BIGGEST OIL DEAL IN WORLD HISTORY!” but...
The US stakes its claim on Venezuelan oil fields, Greece inks a massive weapons deal with Israel, Russia comes to Niger’s rescue
US strikes controversial Venezuela oil dealThe US government will take a majority stake in a new company that has the rights to develop 65 million barrels of Venezuelan crude, or about one-fifth of the country’s total proven reserves. The deal aims to secure massive investment in the dilapidated Venezuelan oil industry, boost US energy security, and yield huge new tax revenues for the Venezuelan government to spend on economic development. But i…
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Venezuelans are outraged and the oil industry is waiting for details on President Donald Trump’s announcement that Venezuela’s acting president has agreed to give an unnamed U.S. company control of vast amounts of the South American country’s untapped oil reserves.…
BBC Mundo explains the keys to understanding this oil agreement and the controversy it has generated:
News 4 JAX
The Latest: Trump oil deal raises questions, Vance and Bessent seek to reassure allies
Venezuelans are outraged and the oil industry is waiting for details on President Donald Trump’s announcement that Venezuela’s acting president has agreed to give an unnamed U.S. company control of vast amounts of the South American country’s untapped oil reserves.
A gigantic long-term oil agreement that should give the United States access to a fifth of Venezuela's crude oil reserves is leading energy experts and lawyers to question its legality and possible execution, as well as charging the two governments greater transparency on contracts.
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