US secures majority control of 65b barrels of Venezuelan oil: Trump
“US President Donald Trump said on Friday that Washington finalised an agreement with Venezuela to secure majority control of more than 65 billion barrels of proven oil reserves. “The United States of A…”
“The United States of America has just entered into an agreement with the country of Venezuela on the biggest oil deal in world history,” he wrote on his social media platform Truth Social. He credited Secretary of State Marco Rubio and Defence Secretary Pete Hegseth for working alongside Venezuelan Acting President Delcy Rodriguez to finalise the transaction.
Rodriguez assumed the interim presidency in January after a US military operationabducted. President Nicolas Maduro.https://truthsocial.com/@real. Donald.
Trump/117175567133618952Trump asserted that the deal was achieved through a partnership with private industry and would involve no cost to American taxpayers. He claimed the transaction more than doubles existing US oil reserves and will "substantially lower gas prices" for Americans in the long term, while promoting prosperity in the South American nation.
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Read:Venezuela, Israel reestablish relations. The deal will strengthen the rapidly evolving relationship between Washington and Caracas, said Trump. Rubio said the deal is a "huge win" for both nations, and that it will bring nearly $100 billion in private investment to Venezuela.
Venezuelan 'revival'Rodriguez characterised the agreement as a “historic milestone” that will catalyse the “nation's revival.”She said in a statement that the initiative is a direct result of strengthening ties with Washington and will facilitate a massive flow of capital for the “recovery and reconstruction of strategic infrastructure” in the hydrocarbons industry.
Rodriguez said the pact involves the development of 17 strategic fields with a proven potential of 65 billion barrels. She projected that the deal would secure an investment of more than $100 billion and generate more than $209 billion in taxes for the country.
The acting leader asserted that the contributions will promote "the energy security of our hemisphere" and provide "greater balance in international markets. "The Washington Postreported earlier that the administration is targeting a stake in 17 specific oil fields, several of which have suffered from years of neglect and lack necessary transport infrastructure.
Transferring control of natural resources to Washington could require changes to Venezuela’s Constitution due to strong domestic opposition,. Despite the administration’s efforts to attract investment in the post-January status quo, Venezuelan oil production has increased by only about 200,000 barrels per day in the last year, according to.
The Washington Post. US Energy Secretary Chris Wright is expected to travel to Venezuela next week.
Written by Ali Khan
Aman-e-Pakistan Senior Journalist & Bureau Reporter
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