🇻🇪 President Donald Trump said the United States had…
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🇻🇪 President Donald Trump said the United States had secured majority control of more than 65 billion barrels of Venezuela’s proven oil reserves through a private-business partnership. Reuters reported that the deal’s final structure, fields and participating companies were not disclosed.
The announced volume is roughly one-fifth of Venezuela’s 303.221 billion barrels of proven crude reserves recorded by OPEC for 2024. Venezuela’s output, however, was far lower than its reserve scale: OPEC recorded 921,000 barrels a day in 2024, while Reuters reported about 1.25 million barrels a day in August 2026. 🛢️
đź“° Reuters said prospective fields were in the Orinoco Belt and Lake Maracaibo regions and that Venezuelan officials were preparing agreements to grant exploration and production rights, particularly to U.S. firms. A lease model was under consideration.
The proposal could face legal and constitutional constraints because the Venezuelan state retains control of core oil activities. U.S. officials said it could bring nearly $100 billion in private investment, but that was a projection; Reuters also identified power-grid, export-capacity and political-uncertainty obstacles to new investment.
What happens next depends on the agreements’ terms and whether they are signed and implemented. The announcement does not by itself show how the United States would exercise majority control, or whether additional crude supplies would materially affect fuel prices.
https://nutanica.com/Venezuela
The announced volume is roughly one-fifth of Venezuela’s 303.221 billion barrels of proven crude reserves recorded by OPEC for 2024. Venezuela’s output, however, was far lower than its reserve scale: OPEC recorded 921,000 barrels a day in 2024, while Reuters reported about 1.25 million barrels a day in August 2026. 🛢️
đź“° Reuters said prospective fields were in the Orinoco Belt and Lake Maracaibo regions and that Venezuelan officials were preparing agreements to grant exploration and production rights, particularly to U.S. firms. A lease model was under consideration.
The proposal could face legal and constitutional constraints because the Venezuelan state retains control of core oil activities. U.S. officials said it could bring nearly $100 billion in private investment, but that was a projection; Reuters also identified power-grid, export-capacity and political-uncertainty obstacles to new investment.
What happens next depends on the agreements’ terms and whether they are signed and implemented. The announcement does not by itself show how the United States would exercise majority control, or whether additional crude supplies would materially affect fuel prices.
https://nutanica.com/Venezuela
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