- Venezuela announced a 25-year energy deal with the U.S. to develop 17 oilfields and raise crude output to an initial target of 1.5 million barrels per day.
- The Trump administration said U.S. firms would take majority control of over 65 billion barrels of Venezuelan reserves (Chevron is expected to be involved), a move that has sparked protests.
- Caracas says the pact could bring roughly $209 billion to the state (about $19 per barrel) while insisting it preserves Venezuela’s sovereignty over its resources.
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