A private oil company has struck a deal with the Trump administration to develop 17 areas in Venezuela, an effort that experts say will take years and billions of dollars.
Category: Nationalization of Industry
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The U.S. Wants the Oil From These 17 Venezuelan Fields
The New York Times – Business: -
Trump Says U.S. Has Deal for Control of Large Share of Venezuela’s Oil
The New York Times – Business:The president said an agreement between the countries involved “a partnership with private business” and more than 65 billion barrels of reserves.
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Oil Giant Chevron Is Said to Be in Talks to Expand in Venezuela
The New York Times – Business:Chevron, the second largest U.S. oil company, is building on its wager to remain in Venezuela, where it already accounts for about a quarter of the country’s oil production.
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Why State Ownership of A.I. Is a Bad Idea
The New York Times – On the Runway:Taking stakes in A.I. companies would not increase the government’s powers to control those companies. The opposite is more likely.
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Britain Will Nationalize Its Last Major Steel Mill, Prime Minister Says
The New York Times – Business:Keir Starmer, with thousands of jobs at stake, vowed to take full control of British Steel, a year after the government first intervened to keep its operations going.
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Venezuelan Lawmakers Approve Sweeping Overhaul of Oil Sector
Bowing to Trump administration pressure, the new legislation improves conditions for foreign oil companies and opens the way to slash the taxes they pay.
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Trump Vows to Make Venezuela Rich. It Will Take More Than U.S. Cash.
History suggests that the price of oil and a wider distribution of wealth are as important as foreign investment.
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Venezuela’s Oil Industry: A Timeline of Key Events
The country’s oil industry has undergone major shifts and two waves of nationalization since its first well started pumping in 1914.
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Wary of Investing in Venezuela, Big Oil Heads to the White House
The amounts of money, time and political uncertainty trouble executives at large Western oil companies, who plan to meet with President Trump on Friday.
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Oil Firms Say Venezuela Owes Them Billions, Complicating Trump’s Plan
Companies like Exxon Mobil and ConocoPhillips say that Venezuela owes them billions of dollars for confiscating their assets two decades ago.