The Defense Department’s Office of Strategic Capital, founded by the Biden administration to give loans to bolster the U.S. defense industry, is helping lead President Trump’s oil deal.
President Trump said his defense secretary and secretary of state reached an agreement with the Venezuelan government on securing billions of barrels of oil reserves “through a partnership with private business.”
President Trump announced an unprecedented agreement in which the Pentagon would become an investor in a private company granted exclusive oil development rights in Venezuela. Nick Schifrin discussed the deal with Francisco Monaldi, director of the Latin America Energy Program for the Baker Institute at Rice University.
Deal that will reportedly see US take control of 65bn barrels of Venezuelan oil has provoked outrage in her country
Venezuela’s interim president, Delcy Rodríguez, has defended her government’s highly controversial energy deal with Donald Trump, insisting the South American country will maintain ownership and sovereignty over its massive oil reserves.
Rodríguez, who assumed power in January after Trump ordered the abduction of the president, Nicolás Maduro, took to the airwaves on Saturday to push back against criticism of what the US president has called “the biggest oil deal in world history”.
Deal that will reportedly see US take control of 65bn barrels of Venezuelan oil has provoked outrage in her country
Venezuela’s interim president, Delcy Rodríguez, has defended her government’s highly controversial energy deal with Donald Trump, insisting the South American country will maintain ownership and sovereignty over its massive oil reserves.
Rodríguez, who assumed power in January after Trump ordered the abduction of the president, Nicolás Maduro, took to the airwaves on Saturday to push back against criticism of what the US president has called “the biggest oil deal in world history”.
Venezuela is believed to have one of the world’s largest reserves of oil but it produces very little oil because of mismanagement, corruption and U.S. sanctions.
Supporters of Venezuela’s government rally to demand the release of ousted President Nicolas Maduro and his wife Cilia Flores, in Caracas, Venezuela, in January.
The answers to questions such as how soon the reserves could be drilled and who will pay to make it happen were not immediately clear. No text of any agreement has been released.
The president said an agreement between the countries covered more than 65 billion barrels of reserves. A U.S. official said it would involve a partnership with a private company.
An oil refinery in Punto Fijo, Venezuela, in 2021. Venezuela’s president, Delcy Rodríguez, said a U.S. oil deal would have a “significant impact on our nation’s revival.”
The announcement of the deal comes nearly nine months after the U.S. military at Trump's direction carried out an operation to capture Venezuela's president Nicolás Maduro and spirit him to the United States to face federal narcoterrorism and drug trafficking charges.
US president says US will have ‘majority’ control of 65bn barrels of proven oil reserves
Donald Trump announced Friday a new US oil agreement with Venezuela’s interim president Delcy Rodríguez, saying the US will have “majority” control of 65bn barrels of proven oil reserves.
The terms of the agreement remain to be seen, but the US president said on his social-media platform that it had been brokered “through a partnership with private business” by his secretary of state, Marco Rubio, and defense secretary, Pete Hegseth.
US president says US will have ‘majority’ control of 65bn barrels of proven oil reserves
Donald Trump announced Friday a new US oil agreement with Venezuela’s interim president Delcy Rodríguez, saying the US will have “majority” control of 65bn barrels of proven oil reserves.
The terms of the agreement remain to be seen, but the US president said on his social-media platform that it had been brokered “through a partnership with private business” by his secretary of state, Marco Rubio, and defense secretary, Pete Hegseth.
A Chevron-chartered oil tanker was anchored near Maracaibo, Venezuela, in February. Chevron is the only U.S. oil company with a major footprint in the country.
Critics call move to gain long-term access to country’s massive energy reserves ‘predatory’ and ‘unconstitutional’
Reports that the US is preparing to claim a big stake in Venezuela’s massive energy reserves have sparked an outcry, with critics describing the move as “predatory” and a “rapacious” land grab.
Several media outlets this week reported that the Trump administration – which abducted Venezuela’s authoritarian president, Nicolás Maduro, in January and has steered the South American country ever since – hopes to secure long-term access to its oil and gasfields.
A former lieutenant colonel in Venezuela’s National Guard living in Florida was deported, interrupting a lawsuit that accused him of ordering violent raids and torture.
Login
