Commodities
US Seeks Stake in Venezuela's 90 Billion Barrel Oil Fields
The Trump administration is in talks to acquire an ownership stake in Venezuela's vast oil resources, which would more than double US oil reserves. The negotiations cover over a dozen productive oil fields containing approximately 90 billion barrels of proven reserves.
Venezuela's interim government would benefit from private companies, including US firms, developing the resources and generating greater oil revenue for the country.
US officials describe the potential deal as 'massive' and say it could secure America's energy future for generations to come. The agreement would involve Venezuela giving the US an ownership stake in exchange for private investment and expertise.