Experts, lawyers puzzled over US-Venezuela oil deal, call for contract transparency

The U.S.-Venezuela pact would give Washington access to about 65 billion barrels (roughly a fifth of Venezuela’s crude) over 25+ years—more than current U.S. proved reserves—making it a very large, long-term deal.
Energy experts and lawyers are alarmed by secrecy and legality: the deal lacked competitive bidding, details and transparency, and could face court challenges.
It’s unclear which companies will operate the fields (NABEP/Alejandro Betancourt is rumored), but the U.S. stake could boost oil flows to the U.S. and help refill the Strategic Petroleum Reserve, with potential effects on gasoline prices.