Delcy Rodríguez signs deals with Chevron and ENI in presence of US energy secretary

Acting President Delcy Rodríguez received US Energy Secretary Chris Wright at the Miraflores Palace on Wednesday, where Venezuela signed petroleum agreements with Chevron and Italy’s ENI.

The meeting also produced a strategic alliance between Venezuela’s state oil company, PDVSA, and US company GE Vernova. The agreement focuses on recovering electrical infrastructure used by the oil industry. GE Vernova Venezuela president Carlos Mousadi and PDVSA executive vice president Jovanny Martínez signed the deal.

US Embassy chargé d’affaires John Barrett and Venezuela’s economic vice president, Calixto Ortega Sánchez, attended the meeting. Venezuelan state broadcaster VTV had earlier shown Rodríguez meeting senior executives from Chevron and ENI.

Chevron said it would expand its Venezuelan operations, invest $7 billion over the next five years and double production in the country. The company said its agreements with Venezuela would improve fiscal, commercial and legal conditions for its joint ventures and support the planned investment.

The announcement came days after US President Donald Trump said a “historic agreement” had been reached to develop Venezuela’s oil reserves and give the Pentagon a share of the profits. The situation remains developing.