🇻🇪 Acting President Delcy RodrÃguez said Venezuela will…
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🇻🇪 Acting President Delcy RodrÃguez said Venezuela will keep ownership and sovereignty over its oil resources under a newly announced agreement linked to the United States.
The reported plan covers 17 oil fields with potential resources of about 65 billion barrels, or roughly 22% of Venezuela’s reported reserves. RodrÃguez said the arrangement would last 25 years.
📰 She said foreign capital, technology and operating capacity were needed to revive the oil industry and support reconstruction. The agreement has drawn criticism over sovereignty and outside involvement.
A large reserve figure does not mean equivalent near-term output: drilling, infrastructure, financing and operating terms determine whether oil can be produced. ⛽
No agreement text had been released in the reporting, leaving the investment commitments, division of control and production timetable unknown.
https://nutanica.com/Delcy_Rodr%C3%ADguez
The reported plan covers 17 oil fields with potential resources of about 65 billion barrels, or roughly 22% of Venezuela’s reported reserves. RodrÃguez said the arrangement would last 25 years.
📰 She said foreign capital, technology and operating capacity were needed to revive the oil industry and support reconstruction. The agreement has drawn criticism over sovereignty and outside involvement.
A large reserve figure does not mean equivalent near-term output: drilling, infrastructure, financing and operating terms determine whether oil can be produced. ⛽
No agreement text had been released in the reporting, leaving the investment commitments, division of control and production timetable unknown.
https://nutanica.com/Delcy_Rodr%C3%ADguez
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