Oil investors need democratic Venezuela for stability, opposition leader says
Machado said investors need legitimacy and stability, as Venezuela’s oil industry produces about 1.25 million barrels per day.
- On Wednesday, Interim President Delcy Rodriguez and US Energy Secretary Chris Wright oversaw a signing ceremony where firms including Eni, GE Vernova, and Chevron committed to expand oil projects in Venezuela.
- Currently, Venezuela's oil industry produces about 1.25 million barrels per day, far below its 3 million barrel peak in the late 1990s, driving the need for foreign investment to revive production.
- On Thursday, opposition leader Maria Corina Machado stated only a "serious, democratic government" can provide the stability needed by investors, while questioning the "true scope" of the agreements.
- Secretary of State Marco Rubio defended the arrangement this week, describing it as aligning Venezuela's energy industry with the United States while helping rebuild a nation ravaged by corruption.
- These projects remain distinct from a separate Caracas-Washington deal that grants the US access to 17 oilfields, demonstrating the scope of the bilateral energy partnership between both nations.
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Rafael Ramírez was Venezuela’s oil minister for more than a decade (2002-2014) and president of the state oil company PDVSA (2004-2014). He was the most powerful man in the country after Hugo Chávez. He was even his right hand, before being removed from power by Nicolás Maduro. Currently in exile, he answers RFI’s questions about the oil agreement between the United States and Venezuela.
Venezuelan opposition leader María Corina Machado told the Donald Trump administration this Thursday that the "enemies" of the United States are today in the presidential palace of Miraflores, in Caracas, six days after the signing of a historic oil agreement that gives Washington control of more than 20% of the oil ... Continue reading "Corina Machado questions oil pact of the United States and Venezuela: "How does it benefit Venezuelans?"
The leader of the Venezuelan opposition and Nobel Peace Prize winner, María Corina Machado, said Thursday that Venezuela "needs much more than money," following the unprecedented oil agreement reached between the United States and the interim government of Delcy Rodríguez, whose legitimacy it objects.
(Mexico City = Yonhap News) Correspondent Song Gwang-ho = Maria Corina Machado, a prominent opposition leader in Venezuela, [regarding] large-scale oil development between the U.S. and the Venezuelan government...
Venezuelan opposition leader María Corina Machado avoided directly criticizing an important oil agreement between the country’s interim authorities and Donald Trump’s government, although she questioned the authority of the interim president, Delcy Rodríguez, to negotiate it. “The true scope of this agreement is not yet known, who signs, what is really signed, who puts the money, who gives the guarantees, how this benefits Venezuelans,” Machado …
The Nobel Peace Prize 2025 responded to the agreement that gives Washington control over more than 20% of Venezuelan oil reserves. It calls for an electoral calendar "in parallel" to economic reforms.
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