Trump Announces Texas-Venezuela Oil Refining Deal

President Trump unveiled a plan to refine Venezuelan oil in Texas for export, describing it as mutually beneficial. He emphasized strong relations with Venezuela's new government following the US-led capture of Nicolas Maduro. This strategic partnership aims to bolster both economies.

In a prominent address on Friday, US President Donald Trump announced a strategic plan ensuring Venezuelan oil will be refined in Texas before being exported globally. Calling it advantageous for both nations, Trump promised to assist in reconstructing Venezuela, describing the current situation as disastrous.

Emphasizing a strengthened partnership with Venezuela, Trump highlighted increased crude oil exports as a marker of success for both countries. He noted, "Crude oil exports are up by hundreds of thousands of barrels a day, benefiting Venezuela's economy and our own as well." The President underscored a robust relationship with the Venezuelan government post-Maduro's capture, promising further collaborative initiatives.

These developments follow the US launching a decisive operation leading to the capture of then-leader Nicolas Maduro and his wife, Cilia Flores, indicting them on severe charges. Delcy Rodriguez now heads the Venezuelan administration, continuing the transition under US oversight with significant implications for bilateral ties.

(With inputs from agencies.)