Reuters: U.S. seeks access to Venezuela’s minerals after securing control of oil

The Daily Journal.— President Donald Trump’s administration seeks greater U.S. access to Venezuela’s mineral resources, including gold, after securing control over 65 billion barrels of the South American country’s proven oil reserves. In that regard, the U.S. administration has expanded its efforts to gain influence over the Caribbean nation’s vast natural resources beyond hydrocarbons, according […]

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Enrique Márquez: “Chavismo destroyed democracy, and we must restore it”

The Daily Journal.— Opposition leader and former presidential candidate Enrique Márquez said Monday that the initiative promoted by Pacto por Venezuela seeks to restore the conditions necessary to rebuild the country’s institutions, revive the economy and achieve an effective transition to democracy. “Washington’s role in Venezuela’s transition is indispensable,” he stressed. Márquez made the remarks […]

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Venezuela will lose at least $500 million a year under U.S. oil deal

The Daily Journal. — Economist Francisco Rodríguez questioned the financial structure of the agreement signed with the United States to develop 17 Venezuelan oil fields. He warned that, based on the terms publicly presented so far, Venezuela would hand over strategic assets and supply crude oil under preferential terms without receiving guarantees in return. In […]

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How the U.S. press covered the oil deal between Trump and Delcy Rodríguez

The Daily Journal On August 28, Donald Trump announced on social media what he called “the biggest oil deal in world history.” The United States secured majority control over one-fifth of Venezuela’s proven crude oil reserves, in an operation covering some 65 billion barrels of oil. The announcement came as the U.S. military operation against […]

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Venezuela “returns” to the U.S. and Western sphere of influence

The Trump administration is reversing, through forceful actions and aggressive diplomacy, what President Chávez painstakingly built, and Nicolás Maduro later sought to deepen. José Gregorio Yépez The signing of Venezuela’s oil agreements with the multinational companies that attended the meeting at Miraflores, with the approval of U.S. Energy Secretary Chris Wright, marks one of the […]

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U.S. expects Venezuela to double oil production in less than five years

The Daily Journal.— The Donald Trump administration expects new investments and energy agreements between the United States and Venezuela to double Venezuelan oil production in less than five years, according to a U.S. Department of Energy fact sheet released Friday by the U.S. Embassy in Caracas. The document presents agreements signed this week with companies […]

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Trump says Delcy Rodríguez wants elections but believes Venezuela is not ready

The Daily Journal – U.S. President Donald Trump said Wednesday that Venezuela’s interim president, Delcy Rodríguez, “wants” the country to hold elections. However, he believes the South American nation is “not ready” for them yet. Speaking to reporters at the White House, Trump praised the Venezuelan leader and highlighted her performance at the helm of […]

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Coinbase co-founder negotiates control of oil fields in Venezuela

The Daily Journal – Coinbase co-founder Fred Ehrsam is negotiating to gain control of at least three oil fields in Venezuela, according to sources familiar with the talks. Alvorada Heavy Industries Ltda currently operates the fields — Boca, Guico and Guara, located in the Orinoco Belt — while U.S. authorities review the company’s contracts and […]

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Chevron plans to invest more than $7 billion in Venezuela and double production within five years

The Daily Journal.— Chevron plans to invest more than $7 billion in Venezuela over the next five years and more than double its production in the country to approximately 600,000 barrels per day, following new agreements that improve the fiscal, commercial and legal terms governing its joint ventures. The expansion represents one of the largest […]

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Military high command backs oil deal with U.S. and rules out political subordination

The Daily Journal.— The Military High Command of the Bolivarian National Armed Forces (FANB) formally expressed its support on Tuesday for the energy agreement between Venezuela and the United States to develop 17 oil fields that account for one-fifth of the country’s proven crude oil reserves. Defense Minister Gustavo González López made the statement after […]

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