Trump’s Venezuela Oil Deal Signals Long Odds to Tap Vast Reserves
TL;DR Summary
The Trump administration announced an agreement with Venezuela and a private oil company to gain majority control of about 65 billion barrels of Venezuela’s oil—roughly a fifth of its proven reserves. While Venezuela reportedly holds one of the world’s largest oil endowments, the plan is unusually government-led and is likely to take years to materialize due to Venezuela’s decayed infrastructure, corruption, and political instability.
Topics:top-news#energy-policy#oil-deal#oil-production-in-venezuela#politics#trump-administration#venezuela-oil-reserves
- What to Know About Venezuelan Energy Following Trump’s Oil Deal The New York Times
- EXCLUSIVE: US firm to take over some Venezuela oilfields previously run by Chinese, Russian firms, officials say Reuters
- US energy secretary will travel to Venezuela to unveil oil arrangement aljazeera.com
- Oil giant Chevron is expected to announce it will expand operations in Venezuela, US official says AP News
- Why Venezuela probably won’t solve America’s emergency oil problem CNN
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