Venezuela's interim president says US energy deal will last 25 years
The 25-year pact targets 1.5 million barrels a day and could send about $19 per barrel to Caracas, Rodriguez 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.
312 Articles
312 Articles
US gains control of Venezuela's oil reserves, but gas prices remain high in Oklahoma
President Donald Trump announced a deal for the U.S. to take majority control of Venezuela's oil reserves, but analysts say it could take years before gas prices are affected.
Trump to Refill Strategic National Reserves with Venezuelan Oil
The U.S. has sealed a deal with Venezuela to control more than 65 billion barrels of its proven oil reserves and America's strategic national stocks are set to benefit, President Donald Trump announced Sunday.
American President Donald Trump promised on Sunday that the supply of oil from Venezuela would make it possible to replenish the reserves of the US Strategic Petroleum Reserve. "One of the things I'm going to do with Venezuelan oil is fill the Strategic Petroleum Reserve, because because of the previous President, Sonny Joe Biden, he's actually empty," he wrote on the Truth Social social network.
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