US officials defend Venezuelan oil deal and say that agreement is part of the path to democracy

Officials from the United States defended Washington’s deal on Tuesday to take an equity stake and run oilfields in Venezuela. They argued that the agreement was part of a process to help the U.S. ensure a reliable, stable supply of crude and rebuild a nation ravaged by corruption.

One of the officials told reporters that the agreement that gives the U.S. a chance to access around a fifth of Venezuelan oil reserves was "a geopolitical advantage to secure fields which had been largely under the influence of Chinese and Russian companies."

The official was asked about Alejandro Betancourt whose North American?Blue Energy?Partners is at the heart?of the agreement after Caracas & Washington agreed on a 100-year leased on 17 large oilfields. He said that the businessman has been thoroughly vetted, and "there are currently no charges against him in the United States of violating any of our laws."

The official stated, "I am not nominating anyone here for sainthood."

The official tied the deal with what they called their desire to create a "stable and democratic Venezuela." The broader effort must culminate in elections for the South American nation, they said.

The?official stated that "the last thing we would want is for a newly elected democratic government to inherit a nation in crisis." He added that the next round of political discussions between the?government leaders and the opposition regarding a democratic transfer in Venezuela would resume mid-September.

One official said that the U.S. Energy Secretary Chris Wright is scheduled to 'travel to Venezuela later today, where Chevron will sign an agreement on Wednesday to expand operations in Venezuela.

(source: Reuters)