Pakistan, Aug. 28 -- The Trump administration is reportedly negotiating an ownership stake in Venezuela's oil industry. US officials told American media that talks involve Venezuela's interim government. The potential deal could cover more than a dozen productive oil fields. Those fields reportedly hold about 90 billion barrels in proven reserves. The agreement could significantly expand US access to Venezuelan crude.

According to Axios, the proposed arrangement would give the United States an ownership stake in selected fields. Private companies would develop the resources and increase oil production. US firms could participate in the development projects. Venezuela would also receive additional revenues from increased production. Offic...