Venezuela’s interim government has unveiled a long-term oil partnership with the U.S., outlining plans to jointly develop 17 key oilfields under a 25-year agreement aimed at boosting production beyond 1.5 million barrels per day. The deal follows remarks from the U.S. president suggesting American companies would gain majority control over significant portions of Venezuela’s oil reserves. Officials emphasized the project’s strategic focus, though details on operational terms and revenue sharing remain unclear. The announcement comes amid ongoing tensions over Venezuela’s political and economic crisis, raising questions about how the partnership will navigate existing sanctions and domestic opposition.
Venezuelan interim President Delcy Rodríguez on Saturday provided details on her country's new oil deal with the U.S., after President Trump said much of Venezuela's oil reserves will be under "majority U.S. control." "This 25-year bilateral project envisages the development of 17 strategic oilfields with a production target of more than 1.5 million barrels per...
