The Trump administration is negotiating a direct US ownership stake in Venezuela's oil fields, according to Axios. The proposed deal would cover more than a dozen fields and could double US oil reserves, expanding Washington's role in the country's crude oil industry.
Axios reported that the Trump administration is in talks with Venezuela to take an ownership stake in the country's oil fields, citing unnamed sources. The proposed deal would cover more than a dozen fields and double the US's oil reserves, according to the report.
Those fields can produce as many as 90 million barrels of crude a day, Axios said. Such an agreement would expand Washington's role in Venezuela's oil industry and could accelerate a shift away from the dominance of state-owned oil company PDVSA.
Formerly, Venezuelan insiders and interests previously controlled by China controlled the fields, according to Axios. Trump began privately discussing ways to take an ownership stake in Venezuela's oil resources before US forces captured President Nicolás Maduro, Axios reported.
Secretary of State Marco Rubio has led the negotiations with Venezuela's acting president, Delcy Rodríguez, according to Axios.
Source: Crypto Briefing
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