The Pentagon has obtained the right of first refusal to purchase Venezuelan oil fields and can acquire 20% of production at cost price.

⑴ According to reports, the US Pentagon has secured the priority right to purchase crude oil output from 17 Venezuelan oil fields. Under the new agreement, the Pentagon can purchase 20% of the output at production cost rather than market price, while the remaining portion will be purchased at market price. ⑵ In addition to the right to acquire oil at a low price, the Pentagon has also obtained approximately 35% of the joint venture’s shares. The transaction is carried out through a special rights arrangement aimed at locking in equity at a symbolic price. ⑶ This arrangement is intended to protect America’s stake from being diluted when the project attracts external investment, and allows Washington to receive dividends from the outset. ⑷ The agreement involves Venezuela’s core oil assets and may potentially impact the supply structure of the international crude oil market. Further attention will be paid to Venezuela’s public response to the agreement and its actual implementation.