The Daily Journal. — U.S. Secretary of State Marco Rubio on Friday endorsed the bilateral energy agreement with Venezuela, which gives Washington majority control over 17 strategic oil fields with proven potential of 65 billion barrels of reserves.
“This agreement is a major win for both the American and Venezuelan people,” the top U.S. diplomat said in a social media post.
Rubio emphasized that the negotiations reflect the White House’s strategic goals to reduce domestic energy costs and strengthen Washington’s position in the Western Hemisphere.
The secretary of state said the agreement “shows how President Trump’s bold foreign policy is delivering wins under the America First agenda: securing stable reserves and low-cost oil in our hemisphere and lowering gas prices here at home.”
His statement echoed earlier remarks by President Donald Trump on social media, where he described the agreement as “the largest oil deal in world history.”
Trump said U.S. companies will assume majority control over 65 billion barrels of proven Venezuelan crude oil reserves.
Economic reconstruction in Venezuela
Regarding the agreement’s impact on Venezuela, the secretary of state stressed that the influx of foreign capital will boost the labor market and the country’s productive infrastructure.
“For the Venezuelan people, this agreement will bring nearly $100 billion in private investment, create thousands of well-paying jobs and drive the reconstruction of Venezuela’s economy,” Rubio said.
Washington’s estimates align with figures presented by Venezuela’s acting president, Delcy Rodríguez, who described the agreement in an official statement as “a historic milestone in bilateral relations.” She said the project will encompass the development of 17 strategic fields, with more than $100 billion in projected private investment and over $209 billion in tax revenue for the Venezuelan state.
