US-Venezuela Ink 25-Year Energy Deal Aiming for 1.5 Million Barrels Per Day

Venezuela and the United States have signed a landmark energy deal that will last for 25 years. The pact aims to boost Venezuela's oil production, with an initial target of 1.5 million barrels per day.

The agreement covers 17 key oil fields and includes eight new oil blocks to expand the sector. This move is part of Venezuela's efforts to increase output and attract foreign investment while maintaining control over its energy assets.

Venezuela's interim president, Delcy Rodriguez, hailed the deal as a significant step towards bolstering the country's economic recovery and boosting state earnings.