Axios, citing two US officials, reports the Trump administration is negotiating
with Venezuela’s interim government for ownership stakes in more than a dozen
producing oilfields, not in the country’s entire ~300 bln-barrel proven
reserves. One official described the agreement as "huge." Under the proposal,
private companies — including US firms — would take equity and participate in
field development to raise output and channel more oil revenue to Venezuela.
Talks are led by Secretary of State Rubio and interim president Delcy Rodriguez.
Supply disruptions from Iran and the war in Ukraine have pushed up oil prices
and added urgency; timing remains unclear. Energy Secretary wright is discussing
a possible visit to Venezuela next week.
