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CARACAS, Sept 1 (Reuters) – Venezuela’s ruling party-dominated National Assembly backed the country’s oil deal with the Trump administration in a vote on Tuesday, ahead of a visit to Caracas by the U.S. Energy Secretary.
The unprecedented deal for the U.S. to gain access to a fifth of Venezuela’s oil reserves via an arrangement under which private oil firm North American Blue Energy Partners (NABEP) would receive a 100-year lease for 17 oilfields has prompted questions and hesitation from some oil companies, sources have told Reuters.
U.S. Energy Secretary Chris Wright will travel to Venezuela to sign an agreement with a private entity on Wednesday, a U.S. official said, adding that Chevron is set to announce expanding operations in the Latin American country.
Reporting by Reuters
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