Venezuelan opposition up in arms over reports US wants big stake in oil and gas

Reports indicate the Trump administration is in advanced talks with Venezuelan officials to secure a significant, long-term stake in the country's vast oil and gas reserves. This potential deal, which could involve a 100-year lease on numerous oilfields, has sparked strong criticism from Venezuelan opposition figures who describe it as a "predatory" and "unconstitutional" land grab. Critics argue that an illegitimate interim government lacks the authority to enter into such an agreement, which they believe contravenes the constitution and is not in the Venezuelan people's interest. The reported negotiations aim to grant the US control over nearly a third of Venezuela's energy reserves, a move some analysts liken to colonial-era resource control. This development is seen as part of a broader US push to reassert influence in Latin America.

The Trump administration is reportedly nearing a deal with Venezuela to secure long-term access to the country's oil reserves. Sources indicate the agreement would allow the US government to designate Venezuelan oil fields for development by American companies, with the resulting crude supply guaranteed for the US. A "lease" model is being considered, potentially followed by an auction to allocate fields to US producers. The negotiations involve fields in the Orinoco Belt and Lake Maracaibo. This potential pact comes as Venezuela is reportedly considering leaving OPEC and strengthening ties with the US.