Venezuela’s Vice President Delcy Rodríguez has come out publicly in support of a long-term oil agreement between her government and the United States, revealing that the deal is expected to remain in force for 25 years. Speaking to reporters, she framed the arrangement as a pragmatic move rather than a concession, arguing that Venezuela’s vast crude reserves are worthless if they simply stay buried underground instead of being developed and sold on international markets.
Rodríguez pushed back against critics who see the pact as a loss of national control over Venezuela’s most valuable natural resource. She insisted that the country’s sovereignty over its oil fields remains intact, and that partnering with US companies or authorities does not mean surrendering ownership or decision-making power over how the resource is managed.
Venezuela holds some of the largest proven oil reserves in the world, but years of economic crisis, US sanctions, and underinvestment in infrastructure have sharply limited the country’s ability to extract and export crude at capacity. A quarter-century agreement of this scope would mark a significant shift in relations between Caracas and Washington, two governments that have had a famously rocky relationship in recent years.
Details on the specific terms, companies involved, and financial figures behind the agreement were not fully outlined by Rodríguez in her remarks. For the complete story and further context, readers are encouraged to consult the original report from La Jornada.
Image: jasonwoodhead23, BY 2.0 (via Openverse).