Venezuela announces historic partnership with United States to revive hydrocarbon sector

On Friday, Venezuela declared a historic energy agreement with the United States, aimed at reconstructing the country's hydrocarbon infrastructure and encouraging large‑scale private investment. Interim President Delcy Rodríguez said the deal would strengthen bilateral ties and bring substantial capital into Venezuela's oil industry.

Key elements of the pact include the development of 17 strategically important oil fields, confirmation of more than 65 billion barrels of proven reserves, and an expected inflow of over $100 billion in investment. The Venezuelan government anticipates collecting more than $209 billion in taxes as production ramps up.

The announcement arrives amid rising oil prices worldwide, a trend that began after renewed tensions with Iran in late February. While the agreement promises to boost supply and lower future fuel costs for Americans, observers note that the success of the venture will depend on political stability and the ability to attract credible private operators.