Venezuela US Energy Deal Lasts 25 Years

Venezuelan interim President Delsi Rodriguez stated that the energy agreement with the United States will remain in force for 25 years, with the aim of increasing oil production to 1.5 million barrels per day and safeguarding the sovereignty of the country's resources. The agreement involves the development of 17 strategic fields, with potential reserves estimated at up to 65 billion barrels, investments exceeding $100 billion, and tax revenues surpassing $209 billion. Nevertheless, the opposition has expressed rejection of the deal, considering it to be unconstitutional and harmful to the interests of the Venezuelan people, amidst condemnation from former officials and threats questioning its legality. Rodriguez’s statements contrast with American reports that mention 100-year privileges for oil rights, while Venezuela remains one of the largest holders of global oil reserves.

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