Venezuela Announces 25-Year Oil Deal With United States

Venezuela interim President Delcy Rodriguez announced a 25-year deal to hand over rights to 65 billion barrels of oil to the United States.

The project targets an initial production of 1.5 million barrels per day across 17 strategic oilfields, potentially generating $209 billion annually for Caracas.

Venezuela will retain ownership of its natural resources while leveraging US capital and technology to recover its energy industry, with agreements expected to be signed next week.