US Venezuela oil agreement signed
LATEST Energy Secretary Chris Wright announced a new oil deal with Venezuela
U.S. Energy Secretary Chris Wright met with Venezuelan acting President Delcy Rodriguez to implement a new oil agreement. The deal grants U.S. companies access to about 20% of Venezuela's oil reserves and is expected to more than double crude production over the next few years.
NOW PLAYING US and Venezuela move to implement sweeping oil agreement
U.S. Energy Secretary Chris Wright met with Venezuelan acting President Delcy Rodriguez to implement an agreement granting U.S. companies access to approximately 20% of Venezuela's oil reserves. The deal aims to leverage Venezuela's energy resources to foster commerce and potentially reduce conflict in the hemisphere.
This agreement has the potential to significantly impact global energy markets and reshape U.S. foreign policy and economic relations with Venezuela.