Amna Nawaz
@PBSNewsHour·5.3M subscribers·62.2K videos
U.S. and Venezuela sign deals to develop oil reserves
Posted
September 3, 2026
Views
9,610
Likes
59
Engagement
0.61%
September 3, 2026
9,610
59
0.61%
Every word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
1:17Now PlayingOfficials from the U.S. and Venezuela signed a series of deals Wednesday to develop the country's oil reserves.
On a visit to Caracas, U.S. Energy Secretary Chris Wright called it an historic day in the transformation of Venezuela.
Earlier this week, the Trump administration announced a framework agreement that would allow the U.S. access to around one-fifth of the country's oil reserves. The Pentagon will get a stake in the revenues.
U.S. oil giant Chevron is among those looking to benefit and is committing $7 billion to double its production over the next five years.
On the ground, some Venezuelans remain doubtful. One small business owner says he doesn't see "any benefit for the people."
Industry analysts have also expressed skepticism towards processing Venezuela's crude, which is notoriously difficult to refine.
Still, the White House says Venezuela's oil could enter U.S. reserves as soon as November.
Sign up for Here's The Deal with Lisa Desjardins
Subscribe for exclusive content in our newsletters
PBS News podcasts
Stream your PBS favorites with the PBS app
Find more from PBS News at
Subscribe to our YouTube channel
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.
