$209 billion for Venezuela? Delcy Rodriguez reveals what Caracas stands to gain from Trump's oil deal
&imwidth=600&imheight=450&format=webp&quality=medium "$209 billion for Venezuela? Delcy Rodriguez reveals what Caracas stands to gain from Trump's oil deal")
Trump oil deal could transform Venezuela's economy: 17 fields, $100 billion investment Photograph: (AFP)
Venezuela has revealed what it stands to gain from the oil deal with the US. As Caracas prepares to open 17 strategic fields to private operators, the government says the deal could unlock a huge tax windfall.
Venezuelan Acting President Delcy Rodriguez on Friday (Aug 28) said that the oil agreement announced by US President Donald Trump could generate more than $209 billion in taxes for Venezuela. This comes as Caracas prepares to open 17 strategic oil fields to private operators, particularly US companies.
Rodriguez described the arrangement as a major step towards reviving Venezuela's battered energy industry after years of underinvestment, mismanagement, and sanctions.
In a statement shared on Telegram, Rodriguez said the agreement would bring more than $100 billion in investment into the country's oil sector. "The agreement will allow for a significant increase in oil production with the participation of private operators," Rodriguez said.
17 oil fields, 65 billion barrels
According to Rodriguez, the plan covers 17 strategic fields with a proven potential of 65 billion barrels of oil. She said the investments would go towards recovering and modernising Venezuela's hydrocarbons industry and rebuilding strategic infrastructure.
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"This initiative is the result of the strengthening of relations between Venezuela and the United States, and it will facilitate a significant flow of investment aimed at the recovery and reconstruction of strategic infrastructure for the development of our hydrocarbons industry," she said.
Rodriguez noted that the project was expected to generate more than $209 billion in taxes for the Venezuelan state. She also linked the deal to broader economic and energy objectives, saying it could support Venezuela's economic growth while contributing to "the energy security of our hemisphere" and greater balance in international markets.
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Trump seeks more Venezuelan oil
Trump announced the agreement on Friday, saying the United States would secure majority control over more than 65 billion barrels of Venezuela's proven oil reserves through a partnership with private companies.
US Secretary of State Marco Rubio described the arrangement as a win for both countries and said it could draw nearly $100 billion in private investment into Venezuela.
Rubio also argued that increased Venezuelan production could help bring down gasoline prices in the United States.
Venezuela seeks to revive oil output
Venezuela has the world's largest proven oil reserves, but its production remains well below its potential. The country currently produces around 1.25 million barrels of crude a day.
The proposed agreements are expected to be signed next week and would grant new exploration and production rights to several companies, with American firms expected to play a major role.
