Nearly eight months after President Donald Trump pledged that U.S. companies would "rapidly rebuild" Venezuela's oil industry, no new petroleum agreements have been finalized with the U.S., according to a new report. The delays are fueling criticism from industry executives and government officials, particularly as rising global oil prices renew interest in Venezuela's vast energy reserves.
According to Axios, which cites more than a dozen oil executives, senior U.S. officials and people familiar with negotiations, much of the blame is being directed at the U.S. Department of Energy, which has overseen negotiations with Caracas since Trump's January announcement.
