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U.S. Nears Historic Oil Deal with Venezuela · GNN Daily Breaking News

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  Speaker 1: The United States is reportedly close to finalizing a landmark
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  Speaker 1: agreement with Venezuela's interim government that would grant American companies
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  Speaker 1: long-term access to some of the world's largest oil reserves.
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  Speaker 1: According to sources familiar with the negotiations, the deal covers
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  Speaker 1: roughly 17 oil fields in the Orinoco Belt and Lake Maracaibo,
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  Speaker 1: with an estimated 90 billion barrels of proven crude. The
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  Speaker 1: proposed arrangement would take the form of century-long leases, allowing U.S.
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  Speaker 1: producers to operate fields that were previously managed under contracts
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  Speaker 1: with Chinese firms during Nicolas Maduro's administration. While the deal
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  Speaker 1: could be signed within weeks, it faces constitutional hurdles in Caracas,
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  Speaker 1: where Venezuela's laws reserve hydrocarbons for state control. Negotiations are
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  Speaker 1: being led by U.S. Secretary of State Marco Rubio and
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  Speaker 1: Venezuela's Acting President Delcy Rodriguez. Both sides see the pact
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  Speaker 1: as a way to stabilize energy supplies amid global turmoil,
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  Speaker 1: with wars in Iran and Ukraine disrupting markets and the U.S.
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  Speaker 1: strategic petroleum reserve at historic lows. Since Maduro's ouster in
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  Speaker 1: January 2026, Venezuela's oil output has risen by 300,000 barrels
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  Speaker 1: per day, reaching 1.25 million BPD, with nearly half flowing
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  Speaker 1: to the United States. Analysts say the new deal could
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  Speaker 1: lock in U.S. access for generations, reshaping global energy dynamics
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  Speaker 1: and potentially prompting Venezuela to exit OPEC as it deepens
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  Speaker 1: ties with Washington. Critics warn that granting foreign control over
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  Speaker 1: sovereign resources could spark backlash inside Venezuela, where national pride
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  Speaker 1: and resource sovereignty remain politically sensitive. In Washington, Lawmakers are
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  Speaker 1: expected to scrutinize the deal, questioning whether the executive branch
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  Speaker 1: has authority to secure such sweeping commitments without congressional approval.
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  Speaker 1: For the U.S., the agreement promises energy security and reduced
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  Speaker 1: reliance on unstable suppliers. For Venezuela, it offers investment and revenue,
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  Speaker 1: but risks domestic controversy. For global markets, the pact could
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  Speaker 1: shift OPEC's balance of power and influence oil prices worldwide.
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  Speaker 1: As negotiations near completion, the deal stands as one of
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  Speaker 1: the most consequential energy agreements in recent history, a test
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  Speaker 1: of how geopolitics, economics, and constitutional law intersect in the
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  Speaker 1: pursuit of oil.