US-Venezuela Sign Historic Oil Deal with $209 Billion Tax Boost
Venezuela's acting president Delcy Rodriguez announced a historic agreement with the US government to promote investment in the country's hydrocarbons industry. The deal aims to strengthen bilateral relations and facilitate significant investment into Venezuela's energy sector.
The agreement will allow Venezuela to increase oil production through private operator participation, focusing on 17 strategic fields with proven potential of 65 billion barrels of oil. This is expected to generate over $100 billion in investments and more than $209 billion in taxes for the state.
US President Donald Trump hailed the deal as 'the biggest oil deal in world history' on his Truth Social platform. The agreement comes after a series of events, including a US military strike against Venezuela and the detention of its president Nicolas Maduro and his wife.