President Trump announces agreement for U.S. access to Venezuelan oil reserves
Earlier-generation briefing · Verification upgrade pending
What happened
President Donald Trump announced a deal that he described as the biggest oil deal ever, stating it would provide the United States with control over 65 billion barrels of Venezuelan oil reserves.
The administration's agreement could also provide the U.S. access to untapped Venezuelan oil reserves at cost.
The Venezuelan interim president stated that the agreement will help revive the country's economy.
Why it matters
The deal regarding a U.S. stake in the Venezuelan oil industry is described as contentious and could cost billions of dollars.
Context
Venezuela possesses the largest known oil reserves in the world, which are managed by the state-owned oil and gas company Petróleos de Venezuela, S.A. (PDVSA).
Sources 6 sources
This briefing cites 4 publishers across 4 detected independent reporting streams.
- Associated Press What we know about Trump’s deal giving US access to vast oil reserves in Venezuela - AP News
- Bbc News Trump hails 'historic' deal for US to control 65bn barrels of Venezuela's oil - BBC
- Npr Trump says U.S. has entered deal with Venezuela to take control of 65 billion barrels of oil reserves - NPR
- The Washington Post Trump secures vast, potentially costly U.S. stake in Venezuelan oil industry - The Washington Post
- Wikipedia Venezuela Background reference · Wikipedia text used under CC BY-SA 4.0.
- Wikipedia PDVSA Background reference · Wikipedia text used under CC BY-SA 4.0.