The proposed deal covers more than a dozen fields that can produce as many as 90 million barrels of crude a day.
The Trump administration is in talks with Venezuela to take an ownership stake in the country’s oil fields, Axios reported, citing unnamed sources.
The proposed deal would cover more than a dozen fields and double the US’s oil reserves, according to Axios. The fields can produce as many as 90 million barrels of crude a day.
The 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.
The fields were formerly controlled by Venezuelan insiders and interests previously controlled by China, Axios reported.
President Donald Trump began privately discussing ways to take an ownership stake in Venezuela’s oil resources before US forces captured President Nicolás Maduro, according to Axios.
Secretary of State Marco Rubio has led the negotiations with Venezuela’s acting president, Delcy Rodríguez, Axios said.
