Today, an official signing ceremony was held between the Venezuelan government (represented by interim President Delcy Rodriguez) and the company Chevron (Chevron), in the presence of American diplomats and senior officials from the US Department of Energy.
Today, American involvement in Venezuela has transformed from "humanitarian and maintenance assistance" to full strategic and economic management of the country's natural resources, with the aim of lowering global energy prices.
- Chevron will significantly expand its holdings in joint ventures with PDVSA (the national oil company), especially in the Orinoco Basin – one of the largest oil deposits in the world.
- The deals were signed under the new reform of Venezuela's oil law, which for the first time allows foreign companies full autonomy in managing, exporting and selling oil, even when they hold a minority of shares.
- The US Treasury Department has expanded the general licenses that allow Navron and other oilfield services companies to provide advanced technology, software, and engineering services to rehabilitate abandoned wells.
- The goal: to reach a production target of 1.1 million barrels per day in the coming months (an increase from one million barrels today).
- Starting today, revenues from oil sales (which are at a rate of approximately $2 billion per two months) are managed directly through accounts under the supervision of the US Treasury Department in Washington.
- Some of the funds were released today to the private banking system in Venezuela to support the local currency (the bolivar) and prevent inflation.
- In addition to the deals with the American companies, it was announced today that the company Shell is in the final stages of signing a similar agreement for gas and oil production, which marks the full return of the "giants" (Big Oil) to Venezuela.
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