Tue, 01 Sep 2026 08:43:33 GMT
US Signs 100-Year Venezuela Oil Pact
The Trump administration made a 100-year deal allowing a private company, North American Blue Energy Partners, to drill for oil in 17 Venezuelan fields. In return, the U.S. government gets a 35% stake in the business and can buy 20% of the oil at base cost. Officials say this move will help the U.S. avoid Middle Eastern oil shortages and