Venezuela’s Interim President: 25-Year U.S. Energy Deal to Deliver $209B

Venezuela’s interim president Delcy Rodríguez stated on Saturday that the newly announced energy agreement with the United States will remain in force for 25 years. The accord aims to raise crude oil output to 1.5 million barrels per day while preserving Venezuela’s sovereignty over its natural resources.

Scope and Strategic Fields

In a late-night address, Rodríguez described the deal as “historic,” emphasizing its role in revitalizing the national economy and boosting government revenues. She said it would help shape the country’s future. Speaking on the state-run VTV channel, she specified that the 25-year bilateral project includes plans to develop 17 strategic oil fields to achieve production exceeding 1.5 million barrels daily.

Rodríguez clarified that the 1.5-million-barrel-per-day target is an initial objective. A broader plan also encompasses the development of eight additional oil fields as part of a wider expansion of Venezuela’s energy sector.

U.S. Announcement and Terms

On Friday, former U.S. president Donald Trump announced plans for the United States to assume partial control over Venezuela’s vast oil reserves. He cited the capacity of American companies to assist in reviving the South American nation’s struggling energy sector and to supply a new source of crude oil aimed at lowering fuel prices domestically.

Trump offered few specifics about the agreement, stating only that the United States had secured a controlling majority stake in more than 65 billion barrels of Venezuela’s proven oil reserves through a partnership with private firms.

Projected Revenue and Fiscal Mechanics

Rodríguez estimated the agreement could generate approximately $209 billion in revenue for the Venezuelan government, based on a reference oil price of $65 per barrel. She acknowledged that crude oil prices may fluctuate.

She added that roughly $19 from each barrel produced and sold under the arrangement would flow directly to Venezuela, providing a substantial boost to government income.

Rodríguez stressed that Venezuela retains full ownership of its natural resources and sovereignty over them, while simultaneously leveraging foreign capital, technology, and operational expertise to support the recovery of a strategic sector severely impacted by sanctions.

Domestic Reaction and Political Context

On Saturday, dozens of pro-government groups gathered in Caracas, the capital, to protest the U.S. presence in Venezuela.

Following Trump’s announcement, Rodríguez welcomed the agreement, reiterating that it would strengthen economic growth and increase government revenues.

Trump characterized the arrangement as “the largest oil deal in world history” with Venezuela.