Venezuela's state-run oil company says talks with U.S. are progressing

PDVSA says negotiations with the United States on oil sales are progressing, and Washington announced a deal for access to up to US$2 billion in Venezuelan crude.

PDVSA said talks with the United States over oil sales are progressing, and the article reports Washington has announced a deal to access up to US$2 billion worth of Venezuelan crude. The report also notes U.S. President Donald Trump publicly pressed for broader access to Venezuela's oil industry and that Delcy Rodriguez was installed as interim president this week. PDVSA described the negotiations as based on commercial terms similar to those used with foreign partners and said transactions would be legal and transparent. Key facts: - PDVSA announced negotiations with the United States are progressing. - Washington announced a deal for access to up to US$2 billion of Venezuelan crude. - PDVSA said proposed terms mirror those used with partners such as Chevron. - PDVSA board member Wills Rangel told Reuters the U.S. would need to purchase cargoes at international prices. - The article reports Chevron holds a special U.S. license to export Venezuelan crude and that exports to China, the country's main destination, have been constrained amid broader export disruptions. Summary: The reported talks are described as commercial and patterned on existing partner agreements, but the article does not specify final terms or timing. Undetermined at this time.