Venezuela’s Military Approves Oil Deal with the United States

Venezuela’s military has approved what it called a “historic” oil agreement with the United States, a deal that would place 17 Venezuelan oil fields under Washington’s control.

Defense Minister General Gustavo Gonzalez Lopez announced the decision in a televised speech after meeting interim President Delcy Rodriguez. Rodriguez appointed him defense minister in March.

“We support, approve and agree with all the terms of the recent strategic agreement that the country reached with the United States concerning energy development in the oil fields,” Gonzalez Lopez said.

The National Assembly, which is controlled by the government, had already voted to support the agreement. The announcement came more than eight months after the U.S. military captured President Nicolas Maduro, according to the report.

The deal has drawn attention in Venezuela’s oil industry, which has been placed on alert following the agreement and the broader changes surrounding the country’s petroleum sector. U.S. Energy Secretary Chris Wright is expected to arrive in Venezuela.

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We support, approve and agree with all the terms of the recent strategic agreement that the country reached with the United States concerning energy development in the oil fields.