Venezuela signed new oil and gas agreements with U.S. companies on Thursday, April 30th in a move aimed at boosting production and signalling a further thaw in relations between Caracas and Washington.
The deals come after a major political shift in the South American country, following the removal of former Socialist leader Nicolás Maduro in a U.S.-backed operation earlier this year.
The country is now led by interim president Delcy Rodríguez—previously Maduro’s vice president—who said during the signing ceremony that the agreements represent a convergence of interests between the two countries:
Please convey to President Trump, who is a man of action… that we have pledged our word to build solid foundations for long-term relations between the United States and Venezuela.
Under the new arrangements, U.S.-based companies Hunt Overseas Oil Company and Crossover Energy will begin operations in Venezuela’s Orinoco Belt, the country’s main oil-producing region. The deals are part of a broader opening of Venezuela’s energy sector, which has already included agreements with firms such as Chevron, Eni, and Repsol.
