Venezuela's acting president, Rodriguez, posted on social media on August 28 that the country has reached a large-scale oil cooperation agreement with the United States, stating that "this agreement will have a significant impact on the rebirth of our country."
She also said that this agreement is a historic milestone in the bilateral relations between Venezuela and the United States.
Rodriguez said: “This agreement will allow private enterprises to participate, thereby significantly increasing oil production. The agreement mentions the development of 17 strategic oil fields, with a confirmed oil potential of 65 billion barrels. The investment amount exceeds $100 billion, and it could generate over $209 billion in tax revenue for the country.”
She pointed out that ‘the aforementioned investments will not only drive the revival and modernization of our industry, but also contribute to national economic growth, maintain our hemisphere’s energy security, and promote a better balance in the international market.’
Earlier on the 28th, U.S. President Donald Trump announced on social media that the United States had reached an agreement with Venezuela, gaining “primary control” over more than 65 billion barrels of Venezuelan proven oil reserves.
