I keep trying to parse that headline and all I can think is that since it’s from the Malaysia Sun, it’s from someone whose first language is not English. But the article makes it clear:
Venezuela could transfer the development rights to its vast oil and gas fields that are currently operated by American energy companies to entities from BRICS nations, President Nicolas Maduro warned on Friday during a press conference in Caracas.
Honestly this is probably the only way to actually get those resources developed at this point.
Sinopec and Rosneft are absolute beasts in scaling O&G. Given China’s specific USD reserve issues right now, it might make sense to route US assets into developing Sinopec assets abroad.
malaysiasun.com
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