Can Trump's 65,000 million barrel deal revive Venezuela's oil industry?
Analysts warn that the deal may fail to attract investment from US groups, but could destabilize the country's interim president.
US President Donald Trump's plan to take control of 65,000 million barrels of Venezuelan oil has multiple objectives, including increasing US oil reserves and attracting investment to Venezuela's energy sector. The plan, announced on social media, involves acquiring a 35% stake in North American Blue Energy Partners, a private company led by Venezuelan businessman Alejandro Betancourt.
Analysts warn that the deal may have little impact on fuel prices for years and poses financial and legal risks for companies involved. The agreement could also destabilize interim President Delcy Rodríguez, a key partner of the Trump administration. Experts estimate that developing the 17 oil fields involved could take 10 years and require an investment of around $100 billion.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
