US-VENEZUELA OIL DEAL | 65 Billion Barrels, 100 Years & India’s New Crude Calculus

The Pentagon will own 35 per cent of private operator NABEP; Washington gets 20 per cent of its output at cost and first refusal on the rest. The deal pushes China and Russia back, but gives India both an opening for ONGC and a warning: access to Venezuela’s heavy crude may now pass through Washington