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US nears deal to secure long-term access to Venezuela's oil reserves, sources say

  • U.S. officials are negotiating a deal to secure long-term access to Venezuelan oil reserves so American companies can develop a portion of the fields.
  • The plan likely would use a "lease" model with auctions or tenders to allocate fields to U.S. producers, guaranteeing some supply for the United States.
  • Sources say talks are happening at the highest levels and a deal could be signed and announced soon.
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