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US and Venezuela Near Deal Covering 90 Billion Barrels of OilPhoto: 24ora
BusinessAruba

US and Venezuela Near Deal Covering 90 Billion Barrels of Oil

Source: 24ora·2 hours ago·Aruba·1 min read

The United States and Venezuela are negotiating a sweeping agreement that would grant American oil companies long-term access to a large portion of Venezuela's vast petroleum reserves, estimated at 90 billion barrels. The deal, if finalized, would represent a significant shift in relations between Washington and Caracas, which have been strained for years under U.S. sanctions targeting Venezuela's oil sector. American energy companies could gain entry to some of Venezuela's most productive oil fields under the terms being discussed. The negotiations signal a potential easing of U.S. energy policy toward Venezuela, likely driven by American interest in diversifying oil supplies and reducing dependence on other producers. For the Caribbean region, including Aruba — which sits just off the Venezuelan coast and has historical ties to Venezuelan oil refining — any major shift in Venezuelan energy policy carries significant economic implications. No final agreement has been announced, and details of the deal's timeline and conditions remain under negotiation.

Key Facts
  • The U.S. and Venezuela are negotiating a deal that would give American companies long-term access to Venezuelan oil fields.
  • The agreement involves approximately 90 billion barrels of Venezuelan petroleum reserves.
  • No final deal has been announced, and negotiations are still ongoing.
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