Historic Oil Agreement Signed Between the US and Venezuela
The massive partnership established between the two countries will increase America's reserves while ensuring the renewal of Venezuela's hydrocarbon infrastructure.
US President Donald Trump announced that they have signed the largest oil agreement in world history with Venezuela, while Venezuelan Interim President Delcy Rodriguez also confirmed the pact, noting it is a turning point.
Historic Statement from Trump
US President Donald Trump announced in a social media post that they have signed a major agreement with Venezuela.
He stated that Secretary of State Marco Rubio and Secretary of Defense Pete Hegseth worked closely throughout the process.
Reserves and Control
This move, achieved through a private sector partnership, aims to more than double the oil reserves of the US.
It is anticipated that the agreement will significantly strengthen the country's total oil supply.
Confirmation from Venezuela
Venezuelan Interim President Delcy Rodriguez officially approved the oil agreement made with the US.
Rodriguez thanked the US administration and stated that a new era has begun in relations between the two countries.
Investment and Revenue Details
Within the scope of the pact, the development of 17 strategic fields and over 100 billion dollars in investment are planned.
The project is expected to generate more than 209 billion dollars in tax revenue for the Venezuelan state.