United States and Venezuela Reach Major Oil Agreement Following Regime Change
19 sources across 14 countries · 1 of them is linked to a state
Who reported this
- UOL
- CNN Brasil
- Folha de S.Paulo
- Der Spiegel
- Sueddeutsche Zeitung
- Frankfurter Allgemeine
- Financial Times
- Reuters
- Infobae
- The Daily Star
- La Tercera
- La Silla Vacia
- Le Monde
- ANSA
- The Japan Times
- Al Jazeera
- The Korea Herald
- El Pais
- Taipei Times
What the colours mean
- Left
- Centre-left
- Centre
- Centre-right
- Right
- A hatched block means the outlet is affiliated with, or controlled by, a state.
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President Donald Trump and Venezuelan interim president Delcy Rodriguez have announced a historic oil agreement that grants the United States majority control over approximately 65 billion barrels of Venezuela's proven oil reserves. This amount represents roughly one fifth of Venezuela's total reserves, which are the largest in the world. The deal follows the capture and imprisonment of former president Nicolas Maduro by U.S. forces in January. According to the White House, the agreement involves a joint venture where the U.S. will hold a 55 percent stake, potentially creating the second largest oil company in the world by reserves. While some reports mention a 100 year lease, Rodriguez clarified in a national address that the agreement is for 25 years.
Rodriguez stated that the pact involves the development of 17 strategic fields with a production goal exceeding 1.5 million barrels per day. She estimated that the Venezuelan state could receive over 209 billion dollars in revenue, based on a price of 65 dollars per barrel, with royalties of 16 percent and an income tax of 34 percent. She emphasized that Venezuela retains ownership and sovereignty over its resources, arguing that U.S. capital and technology are necessary to revitalize an industry crippled by sanctions and decay. The U.S. government indicated the deal will help restore the Strategic Petroleum Reserve and increase the supply of heavy crude oil, which is essential for many American refineries.
The agreement has faced criticism from various sectors. Some Venezuelan political factions and citizens have expressed concerns over a loss of national sovereignty and a lack of transparency. Legal analysts have questioned the constitutionality of the deal, noting that Venezuelan law defines subsoil resources as inalienable property of the Republic. Additionally, some reports suggest the deal may involve North American Blue Energy Partners, a firm controlled by Alejandro Betancourt, a businessman under investigation for money laundering in Europe. The agreement may also lead Venezuela to leave OPEC to maximize long term extraction and strengthen ties with Washington.
How each side framed it
- Centre-left
- These outlets highlighted the lack of transparency, the pressure on the interim government, and the potential for the deal to be an imperialist takeover.
- Centre
- These outlets focused on the strategic energy security benefits for the U.S. and the operational details of the joint venture.
- Centre-right
- These outlets emphasized the economic potential for Venezuela's recovery and the specific financial terms provided by Rodriguez.
Sources
- Centre ANSA: Trump: 'Historic maxi agreement with Venezuela on oil'
- Centre-left Al Jazeera: What’s behind the US deal to seize control of Venezuelan oil reserves?
- Centre-left Al Jazeera: Venezuela says it retains ‘sovereignty’ following US oil deal
- Centre CNN Brasil: Analysis: Trump's unusual solution for the problem with Venezuela
- Centre-left Der Spiegel: Venezuela: How Donald Trump is seizing Venezuelan oil
- Centre-left El Pais: Delcy Rodríguez responds to criticisms of the pact with Trump and insists on national sovereignty over oil
- Centre Financial Times: US oil deal denounced by both sides of Venezuelan politics
- Centre Folha de S.Paulo: Interim president of Venezuela says energy agreement with US will last 25 years
- Centre-right Frankfurter Allgemeine: "Retain ownership": Venezuela's president placates after oil agreement with USA
- Centre-right Infobae: Delcy announces that the oil pact with the US will be for 25 years and will maintain sovereignty over its resources
- Centre La Silla Vacia: Trump announces agreement on one fifth of Venezuelan oil
- Centre-right La Tercera: Delcy Rodríguez confirms that oil agreement with US will be for 25 years and ensures that Venezuela "will maintain sovereignty" over its resources
- Centre-right La Tercera: 65 billion barrels and control for US: the scopes of Trump's "oil agreement" with Venezuela
- Centre-left Le Monde: Venezuela “retains ownership and sovereignty” of its oil after its agreement with the United States, affirms acting president Delcy Rodriguez
- Centre Reuters: Venezuela's interim president says US energy deal will last 25 years - Reuters
- Centre-left Sueddeutsche Zeitung: USA: Trump's oil deal with Venezuela raises questions
- Centre-left Taipei Times: US to control 65 billion barrels of Venezuelan oil, Trump announces
- Centre The Daily Star: Venezuela says retains 'sovereignty' in US oil deal
- Centre The Japan Times: Trump’s oil deal riles both sides of Venezuelan political divide
- Centre-right The Korea Herald: Venezuelans view US oil deal with doubt, hope
- Centre-left UOL: Interim president of Venezuela says energy agreement with US will last 25 years
- Centre-left UOL: Venezuela announces that energy agreement with USA will last 25 years
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