209 billion dollars for 25 years: details on the "largest oil deal in history"

The interim president of Venezuela, Delcy Rodriguez, revealed new details about the energy agreement signed with the USA, confirming that the contract will be valid for 25 years. In an address to the nation delivered last night on the state channel VTV, Rodriguez defined the move as a "historic" deal that will shape the country's future, help revive the local economy, and inject billions into the state treasury.

According to Rodriguez, the bilateral project includes the development of 17 strategic oil fields, with the goal of increasing crude oil production to 1.5 million barrels per day. She emphasized that this figure refers solely to the framework of the bilateral agreement with Washington and is only an initial target. The expanded plan also includes the development of eight new oil blocks as part of an overall expansion of the country's energy sector.

American control versus local sovereignty

The clarifications from Rodriguez follow the announcement by US President Donald Trump, who unveiled a plan to take partial control over Venezuela's oil reserves. Donald Trump noted that the USA has secured majority control of more than 65 billion barrels of proven oil reserves through partnerships with the private sector, betting that American companies will be able to revive the battered industry and lower fuel prices in the USA.

In response to concerns, the interim president clarified that Venezuela fully retains "ownership and sovereignty" over its natural resources. According to her, the country is using the agreement to leverage foreign capital, technology, and operational expertise for the rehabilitation of an industry severely damaged by years of sanctions.

Profit of 209 billion dollars for the treasury

On the financial level, Rodriguez estimates that the arrangement may yield Venezuela revenues of about 209 billion dollars, based on a reference price of 65 dollars per barrel. She noted that approximately 19 dollars from every barrel produced and sold within this framework will flow directly into the state treasury — a critical cash flow for a country that currently produces only about 1.25 million barrels per day, far below its potential due to underinvestment and mismanagement.

Parallel to the diplomatic moves, the atmosphere in the capital, Caracas, remains tense: dozens of groups supporting the government arrived in the city center to protest against the American presence in the country.

Despite the protests, official sources in Venezuela are already preparing to sign new agreements next week that will grant exploration and production rights to energy companies, including American firms. Sources involved in the negotiations confirmed that the energy giant Chevron is among the companies expected to complete the talks and transfer its joint ventures to the new energy framework being created in the country.