Louisiana Positioned as Key Gateway for Venezuelan Crude
The deal gives the United States rights to 17 oil fields with about 65 billion barrels and cheaper access to 20% of production, officials said.
- On August 28, President Donald Trump announced a deal acquiring a 35% U.S. government stake in a private company granted 100-year rights to develop 17 Venezuelan oil fields containing approximately 65 billion barrels of crude.
- Venezuelan interim President Delcy Rodriguez reformed oil laws to attract foreign investment, moving away from sanctions toward partnership that President Trump described as "THE BIGGEST OIL DEAL IN WORLD HISTORY!."
- Louisiana is positioned as a primary beneficiary because its refineries are equipped to process heavy Venezuelan crude, while the Louisiana Offshore Oil Port, or LOOP, can handle tankers too large for conventional ports.
- Energy Secretary Chris Wright said Wednesday that new investments could more than double Venezuela's oil output, while Chevron separately announced plans to increase its production to 600,000 barrels per day.
- Critics argue this pivot prioritizes power over democratic reform, potentially undermining the opposition led by Maria Corina Machado, as Trump seeks to secure American energy interests through cooperation with current Venezuelan leadership.
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35 Articles
Louisiana poised to cash in on Venezuela’s oil comeback
Louisiana could become one of the biggest U.S. beneficiaries of a major expansion of Venezuela’s oil industry, with the state already having the infrastructure needed to process and transport the crude, The Center Square reports. Much of Venezuela’s oil is heavy and high in sulfur, requiring specialized refining equipment, and Louisiana has 15 operating refineries with a combined crude oil capacity of about 3 million barrels per day. Venezuelan …
Louisiana positioned as key gateway for Venezuelan crude - Regional Media News
(The Center Square) - Louisiana could emerge as one of the biggest domestic beneficiaries of a U.S.-backed expansion of Venezuela's oil industry, with refineries designed to process the country's heavy crude and infrastructure capable of receiving massive oil tankers offshore. The Trump administration is pushing [...]
Your Alaska Link
Louisiana positioned as key gateway for Venezuelan crude
(The Center Square) — Louisiana could emerge as one of the biggest domestic beneficiaries of a U.S.-backed expansion of Venezuela's oil industry, with refineries designed to process the country's heavy crude and infrastructure capable of receiving massive oil tankers offshore.
Bozeman Daily Chronicle
Photos show broken oil infrastructure and blackouts on Venezuela's Lake Maracaibo
CABIMAS, Venezuela (AP) — Broken oil infrastructure peeks out of Lake Maracaibo, where fishermen work and families endure blackouts. A new deal gives the U.S. control of a fifth of the country's oil reserves and promises billions, but is seen…
Louisiana positioned as key gateway for Venezuelan crude - BIZ Magazine
By Nolan Mckendry | The Center Square (The Center Square) — Louisiana could emerge as one of the biggest domestic beneficiaries of a U.S.-backed expansion of Venezuela’s oil industry, with refineries designed to process the country’s heavy crude and infrastructure …
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