Long Term Access to 17 Venezuelan Oil Fields on the Table in US-Caracas Talks

According to Reuters, carried by Donya-e-Eqtesad on Friday, 6 Shahrivar 1405 (August 28, 2026), the United States and Venezuela have moved close to a deal under which American companies would gain long term access to a number of selected Venezuelan oil fields. The report said the proposal could cover up to 17 oil fields, including some in the Orinoco Belt and Lake Maracaibo, with US energy companies likely to compete for development rights. Final details remain unclear, and experts say such a deal could face legal and constitutional challenges. US Energy Secretary Chris Wright is expected to travel to Caracas as early as next week to discuss the plan.

Oilprice.com had separately reported on Thursday, 5 Shahrivar (August 27), citing senior US officials, that the Trump administration is in talks with Venezuela's interim government to acquire a direct US ownership stake in key Venezuelan oil fields.