Developing the country’s vast oil reserves will require significant investment and infrastructure work—and officials have provided no public timeline.

Ali Moshiri, Amos Global Energy CEO and former Chevron African and Latin America president, joins 'Squawk Box' to discuss news of the Trump administration reportedly in talks with Venezuela to take an ownership stake in key oil fields,

The United States entered a deal to take majority ownership in a joint oil venture with a Venezuelan energy company. It could be a game-changer in the long run.

Delcy Rodríguez’s oil agreement with the US could strengthen her ties with Washington and consolidate her power, but it has triggered anger from both Venezuela’s opposition and hard-line Chavista supporters.

On August 28th, the American president declared what he called “the biggest oil deal in world history”, an agreement he said would give America “majority control” of more than 65bn barrels of Venezuelan crude: around one fifth of the country’s vast proven reserves.

Eni SpA said it’s working with Venezuelan authorities to help revive the country’s energy sector, as the US moves to secure greater control over its vast oil industry.