Key facts
- Venezuela Interim President Delcy Rodriguez signed a memorandum of understanding with Total Energies on Saturday.
- The deal was reported by local media.
- The agreement follows the U.S. toppling of former president Nicolas Maduro in January.
- Details about the Total Energies deal were not immediately available.
- María Corina Machado, a Venezuelan politician, expressed concern over the implications of a major oil agreement between the U.S. and Venezuela's interim regime.
- Donald Trump announced a deal securing majority U.S. control of over 65 billion barrels of proven oil reserves in Venezuela.
- The Venezuelan interim government granted North American Blue Energy Partners (NABEP) 100-year concessions for 17 oil fields.
- Delcy Rodríguez defended the energy deal with Donald Trump, stating Venezuela would maintain ownership and sovereignty over its oil reserves.
- Rodríguez claimed the deal would help Venezuela develop its economy and earn revenues of more than $209 billion.
CARACAS, Sept. 19 (Reuters) - Venezuela's Interim President Delcy Rodríguez signed a memorandum of understanding with French oil and gas company TotalEnergies on Saturday, according to local media. This agreement marks the latest in a series of oil deals between multinational corporations and Venezuela's new government, following the U.S.'s toppling of former president Nicolas Maduro in January.
Details regarding the specific terms of the agreement with TotalEnergies were not immediately disclosed. However, broader discussions about Venezuela's oil sector have involved significant figures and potential agreements. Donald Trump announced on TruthSocial that a deal had been secured for majority U.S. control of over 65 billion barrels of proven oil reserves in Venezuela, at no cost to American taxpayers. This was followed by a White House fact sheet detailing that the Venezuelan interim government had granted North American Blue Energy Partners (NABEP) 100-year concessions for 17 oil fields with proven reserves.
María Corina Machado, a prominent Venezuelan politician and leader of the opposition to interim-President Delcy Rodriguez, has voiced concerns about the implications of such agreements, questioning the scope, signatories, funding, guarantees, and benefits for Venezuelans. She referred to a statement made by Trump regarding American companies rebuilding Venezuela's energy infrastructure and increasing oil production.
Delcy Rodríguez has defended her government's energy deals, asserting that Venezuela will retain ownership and sovereignty over its oil reserves. She claimed the agreements offer "endless benefits," including economic development and revenues exceeding $209 billion, aiming to transform Venezuela into an "energy powerhouse" by converting its underground resources into tangible well-being for its people.