Trump's Venezuela oil deal nets first $500M sale under new agreement

Group 1 - The first sale of Venezuelan oil, valued at $500 million, has been completed, with the U.S. set to receive between 30 million and 50 million barrels of sanctioned oil worth approximately $2.8 billion at current market prices [1][2] - The U.S. government will oversee the sale, and the proceeds will be deposited into accounts controlled by Washington, with additional sales expected in the near future [2] - Venezuela possesses over 300 billion barrels of proven oil reserves, significantly more than the U.S., but production has declined from 3.5 million barrels per day in the late 1990s to around 800,000 barrels per day due to mismanagement and rising extraction costs [8] Group 2 - President Trump has initiated discussions with oil companies to invest in restoring Venezuela's oil infrastructure, aiming to mobilize major U.S. oil companies to spend billions on repairs [10][11] - The White House has stated that the energy deal will benefit both American and Venezuelan people, following the arrest of Nicolás Maduro [5] - The administration emphasizes the importance of protecting the Western Hemisphere from narcoterrorists and foreign adversaries through this energy initiative [6]