CNN: “At my direction, Secretary of State Marco Rubio, and Secretary of War Pete Hegseth, working closely with Highly Respected Interim President of Venezuela, Delcy Rodriguez, and, through a partnership with private business, have secured majority U.S. control of more than 65 BILLION BARRELS of proven Oil Reserves in Venezuela, at no cost to the American Taxpayer,” Trump wrote on social media.
“This Historic Transaction MORE THAN DOUBLES American Oil Reserves, greatly increases our Oil Supply, and will substantially lower Gas Prices for all Americans, long into the future, while helping to continue to set Venezuela on a course toward Tremendous Success and Great Prosperity,” Trump continued.
A White House official told CNN the negotiated deal will grant the United States “55% effective output of a new private joint venture that will be the second-largest private oil company by reserves in the world.”…
Trump secures vast, potentially costly U.S. stake in Venezuelan oil industry
But luring firms to the region would still probably require the U.S. government to absorb a considerable amount of the risk involved with developing oil infrastructure in Venezuela.
“I think oil companies in the end will be pretty hesitant,” said Francisco Monaldi, director of the Latin American Energy Program at Rice University…
Chevron, Other U.S. Firms Near Deal to Invest Billions in Venezuelan Oil Fields
Next week, executives from several oil-and-gas companies are set to sign production deals in Caracas, Venezuela, these people said. Energy Secretary Chris Wright is expected to travel to the Latin American country as well.
Many of the fields Venezuela is offering are “greenfields,” which often lack infrastructure or electricity. Turning these into productive oil fields would take billions of dollars in investments…