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Venezuelan National Assembly backs US oil deal

2 September 2026
69088
2026-09-02 10:25

Venezuela's government-dominated National Assembly backs a multibillion-dollar oil deal that grants the United States control of about one-fifth of Venezuelan reserves.

National Assembly chief Jorge Rodriguez said, "Through peaceful diplomacy, the interim president Delcy Rodriguez and President Donald Trump have reached an agreement to exploit 17 oil fields that will enable the production of an additional 1.5 million barrels a day and generate $209–210 billion in revenue for the country from these fields".  US Energy Secretary Chris Wright was set to arrive in Venezuela on Tuesday evening, with a signing of the agreement expected on Wednesday.

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