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US wants to conclude energy deal with Venezuela in early September

29 August 2026 00:45 (UTC +04:00)

The United States hopes to announce a long-term energy deal with Venezuela as early as September, APA reports citing The Washington Post (WP).

Citing unnamed sources familiar with the progress of negotiations between Washington and Caracas, the article writes that US Secretary of State Marco Rubio and US Energy Secretary Chris Wright expect to visit Venezuela "to announce the deal early next month." "However, some [experts] in the [oil and gas] industry are skeptical that anything substantial can be prepared by that deadline," the article notes. It emphasizes that the path to an agreement "faces numerous obstacles, including strong opposition in Venezuela to the idea of ceding control over natural resources to the United States." It is possible that finalizing such an agreement would require amendments to the Venezuelan Constitution, the newspaper adds.

According to information she received, the parties are discussing granting the United States long-term leases to at least 17 oil fields in Venezuela. These are "long-term contracts for a third of Venezuela's oil reserves." This would mean Washington gaining access to approximately 90 billion barrels of Venezuelan oil, the publication states.