US-Venezuela oil deal: majors shun 65B-barrel fields, citing legal risk

The Trump administration and Venezuela's government signed a framework granting the US 'majority control' of 17 oil fields holding ~65 billion barrels (21.5% of Venezuelan reserves). Major US oil companies are not participating, likely due to sanctions, legal exposure, and operational risk. The deal's viability is uncertain, but if realized, it would dramatically shift global oil supply dynamics.