10 Hrs
Source:
الاقتصادية
Washington's $65B Oil Deal with Venezuela
The article discusses how the U.S. government protects its 35% stake in an oil project in Venezuela from dilution by a structure that utilizes future purchase rights extending over 100 years across 17 fields estimated to hold around 65 billion barrels. This arrangement aims to ensure that the United States benefits from the value of its stake even as the project's capital is expanded, with priority rights to purchase production at preferential prices. The goal is to support efforts to revitalize the Venezuelan oil sector and to restore production levels that have declined significantly, which is expected to potentially double in the coming years with investments reaching up to $100 billion. The deal is part of a broader strategy to strengthen American interests in the Venezuelan oil market, despite criticism and questions about the backgrounds and risks involved in collaborating with companies that have been previously pursued.
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