Kevin Crowley

President Donald Trump has boasted that his sweeping oil accord with Venezuela — effectively giving the US control over much of the nation’s crude wealth — is possibly “the greatest deal ever made.”

El presidente Donald Trump se ha jactado de que su amplio acuerdo petrolero con Venezuela, que en la práctica da a Estados Unidos control sobre gran parte de la riqueza petrolera del país, es posiblemente “el mejor acuerdo jamás firmado”.

President Donald Trump has boasted that his sweeping oil accord with Venezuela — effectively giving the U.S. control over much of the nation's crude wealth — is possibly “the greatest deal ever made.”

Big Oil has often employed the "hang around" playbook: secure legal rights to a giant resource — and then, eventually, figure out how to produce it profitably. But few companies

North American Blue Energy Partners, the Trump administration-backed driller for Venezuelan oil, plans to more than double crude output in just over two years.

Read story in English

North American Blue Energy Partners is aiming to increase production to 500,000 barrels a day Key Takeaways:

Chevron Corp.’s $7 billion expansion in Venezuela will be funded with profits from crude produced and sold from the Latin American country rather than outside cash injections, according to the head of the oil giant.

La expansión de US$7.000 millones de Chevron Corp. en Venezuela, se financiará con beneficios del crudo producido y vendido en el país latinoamericano, y no con inyecciones de capital externo, según el CEO de la petrolera.

Big Oil often employed the "hang around" playbook: secure legal rights to a giant resource — and then, eventually, figure out how to produce it profitably.