Venezuelan oil now under US control

The United States has reached an agreement with Venezuela on an oil deal that allows the U.S. to control the production and export of Venezuelan oil by granting American companies long-term privileges and rights to purchase a portion of the output at cost-price. The U.S. government retains the right to object to board members and bears legal responsibility. The deal involves investments by American and Italian companies in Venezuelan oil fields, aiming to boost oil production and improve export capacity, especially through refineries equipped to process heavy crude. While the agreement grants Washington strategic influence, experts warn of challenges related to investment, legal stability, and transparency, as the contracts extend for 100 years and may be subject to political changes that could impact their implementation and sustainability.

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تنويه: هذا ملخص تم إنشاؤه بواسطة الذكاء الاصطناعي

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