Venezuela's interim president says US energy deal will last 25 years

Venezuela's interim President Delcy Rodriguez announced a new energy agreement with the United States that will last for 25 years. According to Rodriguez, the deal aims to increase crude oil output to 1.5 million barrels per day while preserving Venezuela's sovereignty over its natural resources.

The agreement was also discussed by US President Donald Trump, who claimed it would give the US control of billions of oil barrels and potentially lower gas prices in the US. Trump's administration reportedly negotiated the deal with Venezuela, with Secretary of State Marco Rubio and Defense Secretary Pete Hegseth involved, according to the Daily Times and Qatar Tribune Business.

The Qatar Tribune Business report also stated that the deal involves developing 17 fields with a proven potential of 65 billion barrels, potentially drawing $100 billion in investment and yielding over $209 billion in taxes for Caracas. Additionally, a US official said the agreement allows the US to partner with a private operator in Venezuela to create a new private company, with 100-year rights to develop the oil fields, as reported by the Qatar Tribune Business.

Brief written by urgent.news from The Korea Times, The Korea Times, CBS News, Daily Times, Qatar Tribune Business — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.