Venezuela Pursues Additional Oil Contracts and US$12 Billion in Financing
Acting President Delcy Rodríguez said Venezuela is negotiating 44 more oil and gas agreements after 61 were already signed. She expects about US$12 billion in public and private financing over two years and ruled out dollarization. Rodríguez also said oil production rose 8% this year and the agreements could create 320,000 jobs, though no contract list or financing details were released.
Acting president Delcy Rodríguez, governing since Nicolás Maduro was captured in January, addressed Fedecámaras’ 82nd annual assembly in Caracas on 8 October. She reported 44 oil and gas accords under negotiation and 61 signed, with roughly $12 billion in public and private funding anticipated over two years.
She rejected dollarization and cited an 11.7% exchange gap. Oil output rose 8% this year, she said, and the agreements might create 320,000 jobs over four years. No contract roster, lender split, or electricity bill text was disclosed.
If the announced deals and financing materialize, Venezuelan workers, small firms, and energy-sector communities could see new jobs and contracts, while US oil companies, banks, and equipment suppliers may gain access. Consumers could be affected through broader economic conditions, though no pricing or service details were released. Because contract lists and lender breakdowns remain unpublished, public accountability and whether benefits reach smaller enterprises may depend on implementation and oversight.