US Wins 55% Stake in Venezuela Oil Deal with $100B Investment

The United States has reached an oil agreement with Venezuela that would grant the US a 55% effective output share in a new venture controlling 65 billion barrels of Venezuelan reserves.

The planned venture covers 17 Venezuelan oil fields and is expected to attract $100 billion in investment, generating $209 billion in taxes for the country.

Venezuela's interim President Delcy Rodríguez has granted a private operator development rights lasting 100 years, while the US would receive an equity interest as well as the right to purchase crude at cost.