USA negotiates oil fields with Venezuela. Concessions may reach 100 years
World

USA negotiates oil fields with Venezuela. Concessions may reach 100 years

Jornal de Negócios28 August 2026 at 07:07

The United States are in negotiations with Venezuela for the exploration of oil fields in the South American country. The concessions under discussion may reach 100 years, which represents an extraordinarily long period for agreements of this nature.

Venezuela has the world's largest proven oil reserves, which makes the country a potential partner of enormous strategic importance for the USA in the energy sector.

However, Venezuelan oil production has remained well below historical levels, due to the degradation of the country's infrastructure and years of economic crisis that affected the sector.

This negotiation comes in a context of rapprochement between the two countries, after a prolonged period of sanctions and diplomatic tensions.

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