US energy secretary to visit Venezuela for oil agreement announcement

Venezuela’s National Assembly has approved a controversial deal allowing the U.S. to gain control over a significant portion of the country’s oil reserves, estimated at 65 billion barrels. U.S. Energy Secretary Chris Wright is scheduled to visit Venezuela to finalize the agreement, which has faced criticism for lacking transparency. The deal, in partnership with North American Blue Energy Partners, is expected to enhance U.S. access to Venezuelan oil amid ongoing economic challenges in the country.

Want More Context? 🔎