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00:03Venezuelan interim president Delce Rodriguez set a new 25-year energy agreement with the United States,
00:08according to an announcement on Venezuelan state broadcaster VTV.
00:13The deal aims to raise crude production to 1.5 million barrels per day from about 1.25 million
00:20while preserving national control over resources.
00:23The bilateral project covers 17 strategic oil fields and includes eight greenfield oil blocks.
00:30Rodriguez estimated the agreement could generate about $209 billion in revenue for Venezuela over 25 years
00:36based on oil at $65 per barrel, with roughly $19 per barrel going directly to the state.
00:43President Trump said,
00:44Friday, the U.S. secured majority control of more than 65 billion barrels of Venezuelan reserves
00:49through a private sector partnership.
00:52Chevron is reportedly among companies negotiating to transition its Venezuelan joint ventures into the framework.
00:58For all things money, visit Benzinga.com.
