U.S.-Venezuela Oil Deals Stalled Eight Months After Trump's Promise

Nearly eight months after President Trump predicted U.S. companies would 'rapidly rebuild Venezuela's dilapidated oil industry', no new petroleum deals have been finalized. The U.S. Department of Energy is largely blamed for the slow pace, with competition among companies and political uncertainty in Venezuela also complicating negotiations. Major firms like ExxonMobil and Chevron are proceeding cautiously, while smaller independent producers have signed preliminary agreements. Venezuela's oil production has climbed but remains far below its peak.