Delcy Rodríguez publicly declared that Venezuela fully preserves ownership and sovereignty over its natural resources. This statement was made during a speech broadcast on state television on Saturday.
The day before, U.S. President Donald Trump announced that Washington would take control of 65 billion barrels of the South American country's oil reserves, characterizing the pact as the largest oil deal in global history.
Despite the intervention, Delcy Rodríguez defended the agreement, emphasizing that it will provide Venezuela with access to capital, technology, and operational capacity. These resources are intended to aid in the recovery of a strategic industry severely affected by international sanctions.
Rodríguez highlighted the choice of the diplomatic path with the United States of America, aiming to convert the dispute into a partnership. This cooperation would focus on investment, production, improving well-being, and generating tangible results for Venezuelan citizens.
He expressed gratitude to President Donald Trump, U.S. Secretary of State Marco Rubio, and his administration, recognizing the joint efforts between the Venezuelan and American administrations to finalize the agreement. This occurred almost nine months after the detention of Venezuelan President Nicolás Maduro by the U.S. military.
The stated objective is to transform the country into an energy power, a major oil producer, and a relevant gas exporter, while significantly strengthening the national petrochemical industry.
Rodríguez detailed the financial conditions, informing that the country will receive minimal financial compensation of 16% on operations and income taxes set at 34%. In practical terms, this means that for every barrel produced and sold, approximately 19 dollars (or 16.4 euros) will be directed to the country.
The interim president of Venezuela also disclosed that the agreement will have a validity of 25 years, setting a production target exceeding 1.5 billion barrels per day. Considering the price of 65 dollars (56 euros) per barrel, the country could obtain a total amount of 209.3 billion dollars (or 180.7 billion euros) through this arrangement.
On Friday, Rodríguez had communicated that the agreement covered the development of 17 strategic fields, with a proven reserve of 65 billion barrels of oil, and provided for an investment exceeding 100 billion dollars (or 86 billion euros).
Venezuela holds one of the world's largest oil reserves, estimated at 303 billion barrels of crude, which corresponds to about 17% of the global supply, according to data from the U.S. Energy Information Administration.
Conversely, on Saturday, the Venezuelan opposition party, Union and Change, expressed support for the need to make the oil agreement signed with the United States public, criticizing the public management of the sector since 2023.