U.S. Secures 100‑Year Oil Rights in Venezuela, Pentagon Gets 35% Stake
The agreement gives the United States a century‑long right to 17 Venezuelan oil blocks and allocates a 35‑per‑cent ownership in the new oil company to the Pentagon.
By Cited Current Editorial Desk Published · Updated
The United States and Venezuela have signed a new oil agreement that grants the U.S. a 100‑year right to exploit 17 Venezuelan oil blocks and gives the Pentagon a 35 % stake in the resulting oil company.[1]
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In a move that could reshape the region’s energy landscape, the United States and Venezuela have signed a new oil agreement that grants the U.S. a 100‑year right to exploit 17 Venezuelan oil blocks and gives the Pentagon a 35 % stake in the resulting oil company.[1]
Agreement Terms
The pact specifies that the United States will hold exclusive rights to drill, produce, and manage the 17 blocks for a full century, while the Pentagon’s 35 % stake will be embedded in the new company’s equity, giving Washington a financial interest in Venezuelan hydrocarbons.[1]
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