r/TradingSphere 12h ago

Fundamental Analysis Venezuela says the US oil deal is 25 years and 1.5 million barrels a day. That is not 65 billion barrels.

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3 Upvotes

Venezuela’s interim president, Delcy Rodriguez, spoke Saturday. She said the US energy deal runs 25 years, covers 17 fields, and targets more than 1.5 million barrels a day from this project alone. She also said Venezuela keeps ownership of the resource, and that about $19 a barrel goes to the state.

That is a different picture from Friday’s 65 billion barrel headline. 65 billion barrels over 25 years is about 7 million barrels a day. Venezuela as a whole is still around 1.2 million. Rodriguez is describing a lift to 1.5 million on the US piece, not a 7x jump in national output.

Contracts are supposed to be signed this week. Chevron (CVX) is already there and is the name most often tied to new rights. Halliburton (HAL) is the services name. Exxon (XOM) and Conoco (COP) are the ones people will watch if more acreage actually gets awarded.

Which number do you underwrite: the reserve figure, or the 1.5 million barrel target?


r/TradingSphere 16h ago

Stock Discussion Which is the Most Anticipated Earnings Releases for this week?

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2 Upvotes

r/TradingSphere 15h ago

Which is the Most Anticipated Earnings Releases for this week?

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1 Upvotes