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The US-Venezuela oil deal covers 17 fields under hundred-year concessions, through a company 35% owned by the Pentagon. No contract text has been published. The post A Hundred-Year Concession Over 17 Venezuelan Oil Fields appeared first on The Rio Times.
Venezuela produces about 1.2 million barrels a day in total and the US imported 630,000 a day in June 2026. Claims of millions a day overstate it fourfold. The post Venezuela Does Not Produce Millions of Barrels a Day for the US appeared first on The Rio Times.
Venezuela has some of the world’s largest oil reserves and could eventually produce far more than it does today. But Columbia University’s Luisa Palacios says reviving the industry would take years, up to $150 billion in investment and a major rebuilding of trust after decades of contract changes, expropriations and infrastructure decline. (Source: Bloomberg)
The Pentagon is taking a stake in a private Venezuelan oil company in what President Trump called “the biggest oil deal in world history.” On the Big Take podcast we break down what we know about the plan so far and what may be the motivation behind it. Listen wherever you get your podcasts. (Source: Bloomberg)
Chevron's finance chief said the company will more than double its rigs in Venezuela. No before and after numbers exist, and only six firms may operate. The post Chevron Says It Will More Than Double Its Drilling Rigs in Venezuela appeared first on The Rio Times.
When US President Donald Trump announced on August 28 that the United States had secured majority control over some 65 billion barrels of Venezuelan oil through a private company, the North American Blue Energy Partners (NABEP), he called it “the biggest oil deal in history”. The White House fact sheet provided the details: NABEP’s 100-year concessions on 17 oilfields with 65 billion barrels of proven reserves, a 35 per cent Pentagon stake, a 20 per cent State Department offtake at cost with...
A Colombian daily counts more than 25 companies weighing Venezuelan entry. US licences allow signing contracts, not yet performing most of them. The post More Than 25 Firms Weigh Venezuela Entry as Licences Widen appeared first on The Rio Times.
The Cisneros heirs, a branch of Venezuela's famous Cisneros family, say the government seized their oil stake. A Spanish report links the move to Delcy Rodriguez and the Trump administration, but that link is not confirmed. The post Venezuela: Cisneros Heirs Say State Seized Oil Stake appeared first on The Rio Times.
The Venezuela oil opening is redrawing ownership. One of the country's oldest business dynasties is reported out, and Beijing watches its loans. The post Venezuela Oil Opening Redraws Ownership as Beijing Watches Its Loans appeared first on The Rio Times.
Opposition leader Maria Corina Machado says Venezuela oil wealth belongs to the people, not to what she calls an illegitimate regime in Caracas. The post Venezuela Oil Is Not the Government’s to Sell, Machado Says appeared first on The Rio Times.
El presidente Donald Trump se ha jactado de que su amplio acuerdo petrolero con Venezuela, que en la práctica da a Estados Unidos control sobre gran parte de la riqueza petrolera del país, es posiblemente “el mejor acuerdo jamás firmado”.
GeoPark says pairing its new Venezuelan block with Vaca Muerta in Argentina can multiply its output, days after a deal handed control to Grupo Gilinski. The post GeoPark Bets on Venezuela and Vaca Muerta to Nearly Triple Output appeared first on The Rio Times.
The International Monetary Fund is considering opening a local office in Venezuela, establishing permanent representation in the country for the first time in years, according to people familiar with the matter.
US energy firms on Wednesday signed a raft of multi-billion-dollar deals with Venezuela, days after the South American country agreed to grant the United States control of a huge chunk of its vast oil reserves. President Donald Trump has talked up the agreement on Venezuela's oil reserves as the "biggest oil deal in world history." But the deals have raised major questions about Venezuela's sovereignty, as FRANCE 24's International Affairs Editor Kethevane Gorjestani explains.
US oil giant Chevron, Italy's ENI and GE Vernova signed deals worth "tens of billions of dollars" with Venezuela, US Energy Secretary Chris Wright said Wednesday during a trip to Caracas where he and Interim President Delcy Rodriguez finalised the agreements.
U.S.' Chevron, Italy's Eni and other foreign energy producers committed on Wednesday to major project expansions to boost oil output in Venezuela, in a signing ceremony in Caracas overseen by interim President Delcy Rodriguez and U.S. Energy Secretary Chris Wright. FRANCE 24's Maya Yataghene reports.
Signing ceremony as US to control a fifth of Venezuela’s oil reserves.
Oil giant Chevron confirmed that it would expand its operations in Venezuela, just days after President Donald Trump announced an ambitious deal to develop the nation’s oil reserves and give the Pentagon a stake in the profits. Chevron, the only US oil company that has a major presence in the country, said on Wednesday that it had been assigned additional acreage in the Orinoco Belt, where the company had an established position. Joint venture plans include investing more than US$7 billion over...