Venezuela's assembly backs oil deal announced with U.S.

Venezuela's ​ruling party-dominated National ​Assembly backed ‌the country's ​oil deal with the Trump administration in ‌a vote on Tuesday, ahead of a visit to Caracas by the U.S. Energy ‌Secretary. The unprecedented deal for the ‌U.S. to gain access to a fifth of Venezuela's oil reserves via an arrangement ⁠under ​which private ⁠oil firm North American Blue Energy Partners (NABEP) would ⁠receive a 100-year lease for 17 ​oilfields has prompted questions and hesitation from ⁠some oil companies, sources have told Reuters.

U.S. Energy ⁠Secretary ​Chris Wright will travel to Venezuela to sign an agreement ⁠with a private entity on Wednesday, a ⁠U.S. official ⁠said, adding that Chevron is set to announce expanding operations in ‌the ‌Latin American country. (Reporting ​by Reuters)