The U.S. announces a landmark Venezuela oil agreement...

The U.S. announces a landmark Venezuela oil agreement giving Washington effective operational control over major reserves through North American Blue Energy Partners. The deal covers 17 strategic oil fields with an estimated 65 billion barrels, while Venezuela retains formal ownership and receives long-term royalties and taxes. U.S. control comes through Pentagon equity, purchase guarantees, board vetoes, and rights over oil output. The agreement could reshape global energy access, but experts say Venezuela’s damaged infrastructure means production gains will take years and will not quickly reduce fuel prices.

Friday, 28 August, 2026