After Trump announces ‘biggest oil deal’, Venezuela says it helps retain 'sovereignty’
Addressing the nation in a television address, Delcy Rodriguez hailed the accord as a “historic” deal that would help revive the economy.
On Sunday, Venezuela's interim President Delcy Rodriguez announced a historic 25-year oil agreement with the United States. The deal, described by Trump as the "biggest oil deal in world history", aims to boost the nation's economy, increase crude output to 1.5 million barrels per day, and preserve Venezuela's sovereignty over its natural resources.
The agreement would provide American access to over 65 billion barrels of proven oil reserves, with the US government and private businesses sharing majority control. Rodriguez stressed that the deal would generate approximately $209 billion in revenue for the Venezuelan state, with roughly $19 from each barrel sold flowing directly to the country.
Through this partnership, the US will acquire an effective 55% share of the oil produced by the new private joint venture, expected to become the world's second-largest private oil company by reserves.
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