The Aporia · Venezuela expects nearly US$76 billion in oil investment over five years, acting president says

Acting President Delcy Rodriguez announced that Venezuela expects nearly $76 billion in oil investment over five years due to recently signed agreements. The announcement includes a bilateral accord with the United States which plans for drilling 250 rigs across 17 oil fields. Since January, when Maduro was ousted, Venezuela has been inviting foreign investments into its energy sector, supported by the Trump administration. Rodriguez highlighted an increase in production from 70,000 to 370,000 barrels per day in Zulia state, expected to reach 400,000 bpd by the end of 2026, despite previous challenges like underinvestment and sanctions.

Written locally by qwen2.5:14b on 2026-10-18, using this article's own text rather than the other coverage of the same event (that is the story summary below).

Story summary

As of October 17, 2026, Venezuela expects nearly US$76 billion in oil investments over the next five years under recently signed agreements, according to acting President Delcy Rodriguez. These investments are part of bilateral accords with the US and include plans for drilling 250 rigs across 17 oil fields. Since January, when President Nicolas Maduro was ousted, Venezuela has been reopening its energy sector to foreign investment, supported by the administration of former US President Donald Trump. With the world's largest proven crude oil reserves but currently producing well below levels seen a decade ago, these deals aim to boost output and provide mutual benefits for both countries.

Written for “Venezuela Oil Investment Prospects” on 2026-10-18, grounded in this article and the 0 other(s) covering the same event.

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📰 Venezuela Oil Investment Prospects

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The Straits Times

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