US-Venezuela oil deal deepens China’s energy security squeeze
A landmark oil agreement between Washington and Caracas threatens to cut Chinese refiners off from a cherished source of discounted crude, handing the United States greater sway over global oil prices. US President Donald Trump announced on August 28 that the US had reached what he called the biggest oil deal in world history with […] The post US-Venezuela oil deal deepens China’s energy security…
The United States has taken a significant step in reshaping Venezuela's oil industry through a new agreement with a US-backed oil company, North American Blue Energy Partners (NABEP). This deal will see NABEP take over some oilfields that were previously controlled by Chinese and Russian operators. The arrangement grants US companies access to 64 billion barrels of Venezuela's proven oil reserves, aligning with President Trump's goal of reshaping the country's oil sector to better suit US interests.
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Also reported by 1 other outlet
- Under US-Venezuela oil deal, some Chinese and Russian operators lose out freemalaysiatoday.com
