Venezuela Strikes Energy and Mining Deals with US Firms Amid Thawing Relations
Venezuelan Acting President Delcy Rodríguez praised US President Donald Trump as a 'man of action' during a ceremony at Miraflores Palace, signaling a significant shift in bilateral relations. Rodríguez hosted a US delegation led by Jarrod Agen of the National Energy Dominance Council, where they finalized major economic agreements. The parties signed contracts with Overseas Oil Company and Crossover Energy Holding for oil and gas projects in Anzoátegui, Barinas, and Monagas, involving up to $2 billion in investments. These ventures will collaborate with state-owned PDVSA under Venezuela’s reformed Hydrocarbon Law. Additionally, a memorandum of understanding was executed with US-based Heeney Capital and Switzerland’s Mercuria Energy Group for mining sector cooperation. This deal includes strategic offtake agreements for approximately $2.2 billion annually in gold and bulk commodities, with potential for further exports of aluminum and nickel. The agreements highlight Washington’s push to secure critical mineral supplies and promote energy investments in Venezuela, marking a rapid normalization of ties characterized by officials as moving at 'Trump speed.'
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