U.S.-Venezuela Seal 25-Year Energy Pact to Revive Oil Industry
Interim President Delcy Rodríguez said the deal will focus initially on 17 strategic oilfields with a target of more than 1.5 million barrels per day. The wider plan also includes developing eight new oil blocks. Rodríguez said Venezuela will retain ownership and sovereignty over its natural resources while benefiting from U.S. capital, technology
and expertise. She estimated the agreement could generate substantial government revenue including about $19 per barrel flowing directly to Caracas. The pact follows Washington’s announcement that U.S. interests will gain major access to Venezuela’s vast proven oil reserves. The deal could reshape Venezuela’s energy sector while strengthening U.S. access to additional crude supplies.
