Acting President of Venezuela, Delcy Rodriguez, has sought to reassure the public regarding the oil agreement reached with the United States. She asserts that Caracas will retain ownership and sovereignty over its resources, amid questions regarding the terms under which American companies will exploit Venezuelan reserves. “One thing must be absolutely clear: Venezuela retains ownership and sovereignty over its resources,” Rodriguez stated during a televised address on Saturday evening.
Announced on Friday, the agreement provides for significant U.S. participation in the exploitation of Venezuela’s oil reserves in exchange for investments in the sector. Washington describes the deal as historic, with President Donald Trump highlighting the control of 65 billion barrels from Venezuelan reserves.
As the full details of the agreement have not been made public, its content has sparked criticism and speculation regarding the benefits for both Caracas and Washington. According to Venezuelan authorities, the agreement is expected to generate approximately $209 billion in revenue over the planned 25-year period. Rodriguez assures that the state will collect nearly $19 per barrel sold through taxes and royalties.
The acting president believes the agreement will allow Venezuela to access the “capital, technology, and operational capacity” needed to revive its oil industry, which has been severely affected by sanctions and years of underinvestment. While national production rose by 30% between January and July to reach about 1.2 million barrels per day, it remains well below the three million barrels produced 25 years ago.
The agreement fuels hopes for an economic recovery in a country still marked by the deep crisis between 2014 and 2021. However, experts like engineer Oswaldo Felizzola warn that production increases will likely take three to four years to materialize, noting that American involvement could facilitate the arrival of much-needed capital that has been absent for over a decade.
Captured & Published at: 2026-08-30 18:53:39 (Madagascar Local Time EAT)
Original Source: https://www.2424.mg/accord-americano-venezuelien-caracas-assure-conserver-la-souverainete-sur-ses-reserves-de-petrole-dans-laccord-avec-washington/
