Trump hails ‘historic’ deal for US to control 65bn barrels of Venezuela’s oil
The US has reached a deal with Venezuela to control more than 65 billion barrels of its proven oil reserves, President Donald Trump announced. “This Historic Transaction MORE THAN DOUBLES American Oil Reserves, greatly increases our Oil Supply, and will substantially lower Gas Prices for all Americans,” Trump posted on social media. Venezuela’s interim President, [...] The post Trump hails…
The US has announced a historic deal with Venezuela to control over 65 billion barrels of its proven oil reserves, according to President Donald Trump. The agreement, which Trump claims will "greatly increase" the US's oil supply and lower gas prices for Americans, is set to develop 17 strategic oil fields with a proven potential of 65 billion barrels.
Interim Venezuelan President Delcy Rodriguez hailed the deal as a step towards her nation's economic revival, estimating it would bring nearly $100 billion in private investment and create thousands of high-paying jobs. The US government will retain 55% control of a joint venture with a private operator in Venezuela, who will have a 100-year concession to operate in the oil fields.
The deal comes after US forces seized Venezuelan President Nicolás Maduro and his wife, Cilia Flores, in a special forces operation. While few details of the agreement have been released, Secretary of State Marco Rubio hailed the deal as a "huge win for both the American and Venezuelan people."
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