DistantNews
Support us
Venezuela and US sign new oil and power agreements with Chevron, Eni and GE Vernova
🇵🇦 Panama /Energy & Infrastructure

Venezuela and US sign new oil and power agreements with Chevron, Eni and GE Vernova

From TVN Panamá · () Spanish

Translated from Spanish and summarized by DistantNews. Read the original for the full story.

At a glance

News Named sources New plan
  • Venezuela signed agreements with Chevron and Eni to expand oil operations, while GE Vernova agreed to help restore the country’s electricity network.
  • US Energy Secretary Chris Wright attended the signing in Caracas with interim President Delcy Rodríguez after Washington and Caracas announced a broader oil agreement on August 28.
  • Chevron and Eni will operate several blocks under production-sharing contracts that increase their participation in the fields.

Venezuela has signed new agreements with Chevron and Eni to expand oil operations and with GE Vernova to repair much of its electricity network. US Energy Secretary Chris Wright attended the ceremony in Caracas alongside interim President Delcy Rodríguez at the Miraflores presidential palace.

I believe the agreements being signed today, with billions of dollars in investment and ultimately many jobs created, are essential to beginning to bring peace, opportunity and prosperity to everyone.

— Chris WrightThe US energy secretary described the new agreements at the Caracas signing ceremony.

The signing followed an agreement announced by Washington and Caracas on August 28 that would allow the exploitation of a fifth of Venezuela’s oil reserves. Chevron, the US company, and Italy’s Eni will operate several blocks under production-sharing contracts that increase their participation in the fields.

“I believe the agreements being signed today, with billions of dollars in investment and ultimately many jobs created, are essential to beginning to bring peace, opportunity and prosperity to everyone,” Wright said.

All the joint effort that his government has deployed.

— Delcy RodríguezVenezuela’s interim president thanked Donald Trump’s government for helping reach the agreements.

Rodríguez thanked President Donald Trump for “all the joint effort that his government has deployed” to reach what she called “win-win” agreements. The Venezuelan government also signed contracts with GE Vernova to repair a large part of the national electricity network.

Win-win.

— Delcy RodríguezShe used the phrase to characterize the agreements.

“With the agreements we have signed, we will continue moving forward to stabilize and restore the electricity network for this people and for everyone who wants to do business here,” said Roger Martella, GE Vernova’s corporate director. Venezuela also reached an agreement with the Venezuelan company Primavera to operate two fields in the Orinoco oil belt, which contains major crude reserves.

With the agreements we have signed, we will continue moving forward to stabilize and restore the electricity network for this people and for everyone who wants to do business here.

— Roger MartellaThe GE Vernova executive described the planned electricity-network work.
About this summary

Originally published by TVN Panamá in Spanish. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

More Stories

From Our Blog