The Trump administration is reportedly in talks with Venezuela’s interim government about the United States taking an ownership stake in the country’s oil resources, according to Axios, as cited by multiple outlets. The discussions focus on more than a dozen oil fields and would involve private companies developing the fields and providing Venezuela with oil revenues.
Jamaica Observer reports the fields are associated with about 90 billion barrels of proven reserves—roughly a third of Venezuela’s total proven reserves of around 300 billion barrels. It also notes the proposed deal would increase US oil reserves and take place while the US strategic petroleum reserve is at a 40-year low. Bloomberg similarly describes the potential arrangement as a near-term deal, also based on Axios reporting.
CNA and Bloomberg provide shorter summaries that reiterate the Axios claim, including the strategic petroleum reserve angle highlighted by Axios. Jamaica Observer adds more context about Venezuela’s interim leadership seeking foreign investment in energy and US pressure to invest, while also pointing to US firms’ concerns stemming from Venezuela’s infrastructure challenges and prior disputes over foreign investors’ assets. The Trump administration did not immediately comment on the report, per Jamaica Observer.
