The president said an agreement between the countries covered more than 65 billion barrels of reserves. A U.S. official said it would involve a partnership with a private company.
An oil refinery in Punto Fijo, Venezuela, in 2021. Venezuela’s president, Delcy Rodríguez, said a U.S. oil deal would have a “significant impact on our nation’s revival.”
A Chevron-chartered oil tanker was anchored near Maracaibo, Venezuela, in February. Chevron is the only U.S. oil company with a major footprint in the country.
The U.S. oil giant is negotiating a deal to pump oil in Venezuela, ending a standoff with its socialist rulers and marking a victory for President Trump.
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