Interim president Delcy Rodriguez said a deal with U.S. oil firms would cover 17
prospective fields and grant a 25-year production concession targeting 1.5 mln
barrels/day. The government proposes a $69/bbl sale price, implying $19 of
government profit per barrel, plus a 16% field-use royalty and a 34% income tax
on operating oil companies. Caracas expects proceeds to be added to the $209
billion in profits announced earlier this week.
