- The Trump administration is in talks with Venezuela to take an ownership stake in the Latin American nation’s oil fields, Axios reported.
- Trump administration officials are working on a deal to secure long-term access to a portion of Venezuela's crude reserves, sources said.
- The agreement could be signed and made public soon, allowing American companies to develop a group of Venezuelan oilfields with guaranteed supply for the U.S.
- A source indicated that a 'lease' is being considered as the legal model for the deal, with a further auction or tender to allocate fields among U.S. producers.
- The White House referred questions to the U.S. Department of Energy, while Venezuela's oil ministry and PDVSA did not respond to requests for comment.
The U.S. is in advanced negotiations to secure long-term access to Venezuela's oil reserves, with a potential agreement that could be finalized soon.23
According to sources, the deal would allow the U.S. government to lock in a group of Venezuelan oilfields for development by American companies, ensuring a stable supply of crude oil.
"This is real and being discussed at the highest levels of the U.S. and Venezuelan governments," one source stated, highlighting the significance of the talks.
A separate source indicated that a "lease" model is under consideration, which would involve an auction or tender process to allocate the fields among U.S. producers.
The White House has referred inquiries to the U.S. Department of Energy, while Venezuela's oil ministry and state oil company PDVSA have not responded to requests for comment.5
This potential agreement comes as the U.S. seeks to enhance its energy security and reduce reliance on foreign oil, particularly amid ongoing geopolitical tensions.
The implications of this deal could be significant for both nations, potentially reshaping the energy landscape in the region.
“The deal could be signed and made public soon, with a group of oilfields to be developed by American companies and supply guaranteed for the U.S. A source said a 'lease' is under consideration, with a further auction or tender to allocate fields among U.S. producers.”
