Reports that US wants big stake in Venezuelan oil and gas spark anger
Critics call move to gain long-term access to country’s massive energy reserves ‘predatory’ and ‘unconstitutional’ Reports that the US is preparing to claim a big stake in Venezuela’s massive energy reserves have sparked an outcry, with critics describing the move as “predatory” and “unconstitutional”. Several media outlets this week reported that the Trump administration – which abducted…
Reports have surfaced indicating that the United States is seeking to acquire a significant stake in Venezuela's vast energy reserves, sparking outrage among critics who label the move as "predatory" and "unconstitutional". The Trump administration, which captured Venezuela's authoritarian leader, Nicolás Maduro, in January and has since governed the nation, reportedly aims to secure long-term access to the country's oil and gas fields.
Venezuela boasts the world's largest proven crude oil reserves, estimated at 303 billion barrels, surpassing Saudi Arabia's 268 billion and Iran's 208 billion. According to the Wall Street Journal, Trump officials are engaged in "advanced talks" with Venezuelan officials to obtain a stake in over a dozen oilfields containing 90 billion barrels, nearly a third of Venezuela's energy reserves.
These fields are reportedly located in the Orinoco Belt and Lake Maracaibo regions. The deal has been described as a "legacy-defining moment for President Trump" by unnamed officials, with one official stating that the deal is "massive." The news has caused considerable discomfort and anger among Venezuela's opposition, who are already frustrated by the administration's failure to facilitate genuine political change since Maduro's abduction.
Written by urgent.news from The Guardian's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
