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🇭🇳 Honduras /Economy & Trade

Venezuela says it retains ‘control and ownership’ of its oil after US deal

From Proceso Digital · () Spanish

Translated from Spanish and summarized by DistantNews. Read the original for the full story.

At a glance

News Official statement New plan
  • Venezuela said it retains control and ownership of its oil after a new agreement with the United States.
  • The deal covers exploitation of one-fifth of Venezuela’s crude reserves, described in the report as the world’s largest.

Venezuela has sought to make one point clear after its historic agreement with the United States: it says the country retains “control and ownership” of its oil.

The agreement covers the exploitation of one-fifth of Venezuela’s crude reserves. The reserves are described as the largest in the world.

The clarification came on Sunday, as Caracas emphasized its position over ownership and control of the country’s petroleum resources following the deal.

control and ownership

· Venezuelan governmentThe phrase described Venezuela’s stated position on its oil after the agreement with the United States.
About this summary

Originally published by Proceso Digital in Spanish. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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