US Energy Firms Sign Multi-Billion-Dollar Deals with Venezuela
US energy companies on Wednesday signed a series of multi-billion-dollar deals with Venezuela, days after the country agreed to give Washington control over a large share of its oil reserves. The agreement has raised concerns about Venezuela's sovereignty.
US energy companies on Wednesday signed a raft of multi-billion-dollar agreements with Venezuela. The deals came just days after the South American nation agreed to hand the United States control over a substantial portion of its vast oil reserves.
US President Donald Trump has described the arrangement covering Venezuela's oil reserves as the "biggest oil deal in world history."
Sovereignty concerns
However, the agreements have prompted serious questions about Venezuela's sovereignty. France 24's International Affairs Editor Kethevane Gorjestani has addressed the implications of the deals for the country's control over its own natural resources.
The scale of the agreements, and the fact that American energy firms feature so prominently in them, points to a significant expansion of US involvement in Venezuela's oil sector — a country holding one of the world's largest oil reserves.
