Trump's Venezuela oil deal gives US access to vast reserves as Iran war drives energy concerns

The US and Venezuela have signed a historic oil agreement enabling Chevron to expand operations. A US-backed venture, North American Blue Energy Partners, gains control of 65 billion barrels of proven reserves and 100-year concessions to develop 17 Venezuelan oilfields. US Energy Secretary Chris Wright signed the deal Wednesday. The agreement aims to secure reliable energy supplies amid Iran conflict disruptions and rising global oil prices.

The great energy agreement with the United States follows our path to transform Venezuela, from a country with great reserves, into an oil-producing power, for the benefit and happiness of the Venezuelan people.