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Glenn Pool
The deal with Betancourt, facilitated by the State Department and the Pentagon, surprised numerous energy firms and their leaders, including those already in commercial talks with Venezuela, according to sources familiar with the situation.
Sources indicate that industry leaders voiced worries that the deal would obstruct negotiations and limit companies' ability to access the best assets in Venezuela. Nevertheless, entrepreneurs recognized that voicing public criticism of the deals between Washington and Caracas is unwise.
As per Bloomberg, although US President Donald Trump is trying to quicken his initiatives, the private sector is leaning towards being cautious in exploring Venezuelan oil fields due to economic and security concerns. Moreover, the likelihood of rivalry between NABEP and U.S. oil producers is growing.
According to sources, the US administration is attempting to reassure the oil sector that the White House's partnership with NABEP enhances the security of operating in Venezuela and does not hinder other firms permitted to negotiate with Caracas about the remaining fields.
source: bloomberg.com
Sources indicate that industry leaders voiced worries that the deal would obstruct negotiations and limit companies' ability to access the best assets in Venezuela. Nevertheless, entrepreneurs recognized that voicing public criticism of the deals between Washington and Caracas is unwise.
As per Bloomberg, although US President Donald Trump is trying to quicken his initiatives, the private sector is leaning towards being cautious in exploring Venezuelan oil fields due to economic and security concerns. Moreover, the likelihood of rivalry between NABEP and U.S. oil producers is growing.
According to sources, the US administration is attempting to reassure the oil sector that the White House's partnership with NABEP enhances the security of operating in Venezuela and does not hinder other firms permitted to negotiate with Caracas about the remaining fields.
source: bloomberg.com
