U.S. Nears Agreement for Access to Venezuelan Oil Fields
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U.S. officials say a deal is close that would give the United States ownership or long-term access to Venezuelan oil fields containing about 90 billion barrels of proven reserves.
U.S. officials familiar with the negotiations told Axios that a forthcoming agreement would grant the United States an ownership stake or long-term access to Venezuelan oil fields with roughly 90 billion barrels of proven reserves. The State Department visited Venezuela last month to discuss the terms, and a source said the talks are being conducted at the highest levels of both governments.
The arrangement could involve a lease and subsequent auctions or tenders that would allocate the fields to U.S. producers, according to the report. The White House, State Department and Venezuelan authorities have not responded to requests for comment.
Since the U.S. seized control of Venezuelan oil sales after the January raid that brought former president Nicolás Maduro to the United States, the Trump administration has said it has collected more than $13 billion from those sales. Secretary of State Marco Rubio indicated that the revenue is being audited by KPMG and held in a Citibank account. Temporary sanctions relief has been granted to allow U.S. companies and individuals to conduct business in the Venezuelan oil sector.