22:18 - 30.08.2026

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August 30, Fineko/abc.az. Venezuelan Interim President Delcy Rodriguez confirmed that the historic energy pact with the United States will remain in effect for 25 years, targeting an initial daily crude production increase to over 1.5 million barrels per day (bpd).

In a national television address on state broadcaster VTV, Rodriguez explained that the 25-year bilateral project covers 17 strategic oilfields and eight greenfield blocks in the Orinoco Oil Belt. She emphasized that while the U.S. will provide essential capital, technology, and operational capacity to rebuild the energy sector, Venezuela retains full ownership and national sovereignty over its natural resources.

The agreement is projected to generate over $209 billion in state revenue based on a benchmark price of $65 per barrel, with approximately $19 per barrel produced flowing directly to the Venezuelan government.