Trump's Venezuela Oil Deal Clouded by Controversy Over Partner and Conditions

The US-Venezuela oil deal announced by President Donald Trump has been shrouded in controversy, raising doubts about its viability and even legality. The deal aims to secure access for a century to more than 20% of Venezuela's oil reserves, but the details reveal a more complex situation.

According to the Venezuelan government, the agreement is trilateral and renewable for as long as necessary, with a contract signed for 25 years that can be renewed in similar periods until it reaches whatever duration is deemed appropriate. However, experts point out that there are conflicting accounts from Washington and Caracas over the duration of the pact.

One of the most contentious issues is the choice of partner, Venezuelan businessman Alejandro Betancourt's company NABEP, which has been awarded 17 fields to develop. The deal requires NABEP to sell barrels to the US at cost price, raising questions about the viability of promised investments.