US weighs stake in 90 billion barrels of Venezuela oil reserves

The United States is discussing a deal to take a significant stake in Venezuela's oil sector, according to an Axios report cited by Antara. The negotiations focus on more than a dozen oil fields holding about 90 billion barrels out of Venezuela's roughly 300 billion barrels of proven reserves. The report said the arrangement would let private companies develop those hydrocarbon assets and could lift state revenue in Venezuela. It also said the talks involved US Secretary of State Marco Rubio and Venezuela's acting president, Delcy Rodriguez, and continued into July with State Department and Pentagon officials meeting Venezuelan counterparts. The broader agenda reportedly includes anti-drug cooperation, unfreezing Venezuelan funds, oil sales, mining exploration and a restart of diplomatic dialogue.