Oil deposits: US Energy Minister: Oil deals with Venezuela are "historic"
Just in January, Washington had arrested the authoritarian ruler of the South American country. Now the US is doing business with oil there. Minister Wright is raving about the agreements.
US Energy Secretary Chris Wright visited Caracas and described recent oil agreements with Venezuela as "historic". The agreements were signed by companies including Chevron, General Electric, and Italy's Eni, securing US access to 65 billion barrels of oil reserves, roughly a fifth of Venezuela's estimated reserves. The US will invest over $7 billion in a joint venture with Chevron over the next five years, aiming to more than double production to 600,000 barrels per day.
This comes after the US detained former Venezuelan President Nicolás Maduro in January and transferred him to the US to face trial.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
