A high-level diplomatic mission is underway as the U.S. Energy Secretary travels to Venezuela to formalize an agreement granting significant control over the country’s vast oil reserves. The deal, set to be signed in La Guaira, marks a major shift in energy policy with potential implications for global oil markets and regional geopolitics. Observers are closely watching how this partnership could reshape Venezuela’s struggling petroleum industry and its international relations. Details on the terms and long-term effects remain under wraps, but the move signals a rare collaboration between the two nations amid decades of strained ties.
US Energy Secretary arrived in La Guaira for the signing of a deal that will control much of Venezuela's oil reserves.
