Venezuela Expects $76 Billion in Oil Investments

Acting President Delcy Rodriguez said at the Energy Conference 2026 closing in Zulia that Venezuela expects nearly $76 billion in oil-sector investment over five years. She cited 61 signed cooperation agreements and 44 under negotiation, including a U.S. bilateral deal for 17 oil fields and 250 drilling projects. Rodriguez said each rig would need about 200 workers and projected 324,000 direct, indirect or induced jobs over 10 years. She said Zulia output rose from 70,000 to 370,000 bpd and expects 400,000 bpd by year-end, calling the deals a "win-win partnership" that would deliver "direct benefits for our country" while "providing hope to Venezuelans." The push follows the energy sector's reopening after Nicolás Maduro's removal in January, backed by the Trump administration. Maduro, 63, and Cilia Flores, 70, appeared in U.S. court this week on an expanded torture-conspiracy indictment; new charges last Thursday broadened a case in which both had pleaded not guilty to drug-trafficking-related charges. With only one right-rated outlet and none on the left or center in the record, coverage aligns on Rodriguez's totals. Whether the agreements yield the full capital and jobs remains open.