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Venezuela Confirms 25‑Year U.S. Oil Deal · GNN Daily Breaking News

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  Speaker 1: Venezuela's interim president, Delcy Rodriguez, has announced that the landmark
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  Speaker 1: energy agreement with the United States will extend for 25 years,
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  Speaker 1: cementing a long-term partnership that could reshape global oil markets.
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  Speaker 1: The deal, finalized after months of negotiations, grants American companies
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  Speaker 1: access to some of Venezuela's most lucrative oil fields, including
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  Speaker 1: parts of the Orinoco Belt and Lake Maracaibo. regions that
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  Speaker 1: together hold tens of billions of barrels of proven reserves.
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  Speaker 1: Rodriguez described the agreement as a strategic guarantee for both nations,
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  Speaker 1: ensuring stable supply for the U.S., while delivering investment and
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  Speaker 1: revenue for Venezuela. She emphasized that the pact reflects a
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  Speaker 1: new era of cooperation following the ouster of Nicolas Maduro
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  Speaker 1: earlier this year, which opened the door to renewed ties
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  Speaker 1: with Washington. The deal reportedly covers lease arrangements rather than
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  Speaker 1: outright ownership, allowing U.S. producers to operate fields under Venezuelan sovereignty.
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  Speaker 1: Contracts will be auctioned to American firms with terms designed
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  Speaker 1: to encourage infrastructure investment and technology transfer. By locking in
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  Speaker 1: a 25-year horizon, both sides aim to provide certainty in
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  Speaker 1: an industry often disrupted by political and market volatility. For
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  Speaker 1: the United States, the agreement offers a critical boost to
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  Speaker 1: energy security. With wars in Iran and Ukraine disrupting global
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  Speaker 1: supplies and the strategic petroleum reserve at historic lows, guaranteed
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  Speaker 1: Venezuelan crude could stabilize import costs and reduce reliance on
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  Speaker 1: other suppliers. Analysts note that Venezuela's output has already risen
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  Speaker 1: to 1.25 million barrels per day, with nearly half flowing
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  Speaker 1: to the U.S. since Maduro's removal. For Venezuela … the
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  Speaker 1: pact promises billions in revenue and foreign investment. Yet it
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  Speaker 1: also raises sensitive questions about sovereignty. The country's constitution reserves
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  Speaker 1: hydrocarbons for state control, and opposition figures warn that long-term
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  Speaker 1: leases risk ceding too much authority to foreign powers. Rodriguez
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  Speaker 1: has insisted that the deal respects national law, but critics
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  Speaker 1: argue that century-long arrangements were initially considered. making the 25-year
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  Speaker 1: compromise a political balancing act. Internationally, the agreement could alter
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  Speaker 1: OPEC dynamics. Venezuela has hinted at reconsidering its membership, a
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  Speaker 1: move that would weaken the cartel's cohesion and potentially shift
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  Speaker 1: pricing power. Energy markets are already reacting, with traders anticipating
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  Speaker 1: increased Venezuelan exports to the US and possible ripple effects
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  Speaker 1: across Asia and Europe. As Rodriguez framed it, The deal
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  Speaker 1: is not just about oil, but about building a foundation
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  Speaker 1: of trust and stability. Whether it delivers on that promise
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  Speaker 1: will depend on how both nations navigate constitutional challenges, congressional
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  Speaker 1: scrutiny in Washington, and domestic backlash in Caracas.