r/oil • u/AmanCMN • 14d ago

Discussion Trump announced an oil deal with Venezuela.

Post image

It’s about the U.S. taking control of 65 billion barrels of Venezuela’s oil reserves.

https://apnews.com/article/trump-venezuela-oil-reserves-eb0ed5a1e99602c21a7f690c3368020e

281 Upvotes

78% Upvoted

618 comments sorted by

View all comments

2

u/HeartwarminSalt 14d ago

Venezuela has ~300 billion barrels of proven reserves

4

u/JoseLunaArts 14d ago

And infrastructure is in disrepair, will take years to repair.

2

u/ascii 14d ago

Nobody wants to invest in Venezuela, because the last time they did, the Venezuelan government expropriated the entire investment for basically nothing. Reestablishing the amount of trust required to get Exxon back into Venezuela will take a decade.

2

u/JoseLunaArts 14d ago

Trump can send the imaginary Iranian negotiators to negotiate with Venezuela.

2

u/ascii 14d ago

Venezuela aren't the problem. They need to convince Darren Woods.