Venezuela signs major energy deals with Chevron, Eni during US visit
Chevron said the deals will support more than $7 billion in investment and double its Venezuelan output to about 600,000 barrels per day.
- On Wednesday, Venezuela signed multibillion-dollar oil agreements with Chevron and Eni at Caracas's Miraflores Palace, attended by United States Energy Secretary Chris Wright to oversee the historic signing ceremony.
- These contracts follow a sweeping oil reform approved in January after the United States-led overthrow of former President Nicolas Maduro, designed to revitalize Venezuela's idle petroleum assets and battered infrastructure.
- Chevron will invest $7 billion over five years to double production in the Orinoco Belt. Acting President Delcy Rodriguez defended the partnerships, arguing more oil means "higher wages, better public services, hospitals, schools and food."
- General Electric Vernova signed a separate agreement to strengthen Venezuela's national electric grid. United States Energy Secretary Chris Wright insisted the United States is not "stealing Venezuelan oil," stating the deals bring technology and capital.
- Venezuela aims to reach 2 million barrels per day by decade's end. Acting President Delcy Rodriguez stated an electoral process will occur when "Venezuela is ready," eight months after Maduro's overthrow.
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Caracas. In an event led by Venezuela’s President-in-Charge, Delcy Rodríguez, and the U.S. Secretary of Energy, Chris Wright, Caracas yesterday signed eight million-dollar agreements with Chevron, ENI, Aspect, Primavera and General Electric Vernova companies aimed at doubling oil extraction, exploring new deposits and rebuilding the country’s damaged electricity grid.
Delcy Rodríguez anticipates job creation and improvements in sectors such as health, wages and education after signing energy agreements
The Venezuelan government has signed new agreements with the US oil company Chevron and the Italian Eni in an effort to boost oil production, expanding the scope of existing partnerships.
Venezuela signed agreements on Thursday to boost oil production with energy companies Chevron of the United States and Eni of Italy, agencies reported. The Venezuelan government also signed an agreement with US company GE Vernova to restore the country's electricity grid.
The US has rejected criticism that Washington is "stealing Venezuela's oil" The post Venezuela: Signed energy agreements with multinationals under the auspices of the US appeared first on in.gr.
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