HOUSTON, TEXAS (By Pietro D. Pitts, Editores Latin Petroleum, 28.Aug.2026, Words: 423) — Venezuela’s interim president Delcy Rodriguez announced what she labelled a “historic” agreement with the administration of US president Donald Trump that could have a significant impact on the OPEC country’s economic revival.
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“The agreement will allow for a significant increase in oil production with the participation of private operators. It calls for the development of 17 strategic fields, with a proven potential of 65 billion barrels of oil, an investment of more than $100 billion, and more than $209 billion in taxes for the state,” Rodriguez said on 28 Aug. 2026 in a post on social media. “These investments will contribute not only to the recovery and modernization of our industry, but also to our country’s economic growth, the energy security of our hemisphere, and greater balance in international markets.”
The US-Venezuelan initiative came about as both countries continues to strengthen relations. The agreement aims to will facilitate a significant flow of investment aimed at the recovery and reconstruction of strategic infrastructure for the development of our hydrocarbons industry.
“I extend my deepest gratitude to the president of the United States of America, Donald Trump, as well as to secretary of state Marco Rubio and the US government for their support in developing this agreement, which represents a historic milestone in bilateral relations between Venezuela and the US,” Rodriguez said.
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Rodriguez said the goal of her government is move toward consolidating the country’s position as an “energy-producing power, putting our immense reserves at the service of national development, job creation, increased income for our workers, and the well-being of our people.”
“Venezuela is thus ushering in a new era of recovery, growth, production, security, and prosperity for our people,” Rodriguez said.
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American and Venezuelan people win-win
For his part, Rubio said deal was a huge win for American and Venezuelan people.
“It demonstrates how president Trump’s bold foreign policy is driving America first wins: securing stable reserves and low-cost oil in our Hemisphere and lowering gas prices here at home,” Rubio said in a post on social media.
“For the Venezuelan people, this deal will bring nearly $100 billion in private investment, support thousands of high-paying jobs, and drive the reconstruction of Venezuela’s economy,” Rubio added.
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By Pietro D. Pitts reporting from Houston. © 1999-2026 Energy Analytics Institute (EAI) and its 100% owned Venezuelan affiliate Editores Latin Petroleum CA. All Rights Reserved.
