U.S. near deal for long-term access to Venezuelan crude reserves
U.S. officials are negotiating terms that would give American companies long-term development rights to a bundle of Venezuelan oil fields, with supply reserved for the United States.
Senior officials in the Trump administration are working on a deal that would give the United States long-term access to portions of Venezuela’s crude reserves, according to people briefed on the discussions.
The proposed agreement, which could be signed and announced soon, is expected to allow the U.S. government to secure a package of Venezuelan oil fields to be developed by American companies, with the resulting supply guaranteed for the United States.
Structure and legal model under discussion
Officials involved in the talks say the arrangement would be designed to ensure a steady flow of crude to U.S. markets and refineries by granting U.S. firms development rights over selected fields. The timing and exact scope of the fields covered remain under negotiation, and final terms could be announced in the near term.
One source described the plan as real and taking place at the highest levels of both governments. The source said: "This is real and is being discussed at the highest levels of the governments of the United States and Venezuela."
An additional participant in the discussions said a "lease" model is being considered as the legal mechanism, potentially coupled with auctions or tenders that would assign individual fields to American producers.
U.S. control over Venezuelan oil exports and the role of American companies in developing those resources are central to the proposal, which remains subject to final approval by officials in Washington and Caracas.
Photo: press material from the event
