On Monday, April 13, Petróleos de Venezuela (PDVSA) and the U.S. company Chevron signed an agreement to boost crude oil production in the Orinoco Belt. The meeting was chaired by acting president Delcy Rodríguez.

According to Rodríguez, “this agreement will allow us to make significant progress in production and ensure that the revenue generated from that production goes directly to the benefit of the Venezuelan people.”

Among the objectives of the agreement, she highlighted the exchange of assets between a gas field and the Ayacucho 8 oil block, which will be incorporated into the production of the Petro Piar joint venture. “This block, located in the Orinoco Oil Belt, is considered strategic due to its extra-heavy crude oil reserves.”

During the meeting, a resolution was also approved to delimit and grant exploitation rights in the Ayacucho 8 block to Petropiar, as part of the joint venture scheme operating in the country.

M.Pino

Source: spanish.xinhuanet

(Reference image source:  WORKSITE Ltd. on Unsplash)

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During a meeting with the Council of Vice Ministers of Hydrocarbons and the president of PDVSA, Héctor Obregón, Venezuelan Vice President Delcy Rodríguez stated that the hydrocarbons sector contributes 17 % of the national GDP.

Rodríguez emphasized that the national energy sector has shown sustained growth throughout 2025 and added that “the hydrocarbons sector has driven the creation of new companies linked to the oil, gas, and fuel supply chain.”

According to the official, this upswing is the result of “national alliances and international investments that have strengthened production,” allowing the country to raise operational levels and improve the efficiency of the energy system.

The meeting also provided an opportunity to review the progress achieved so far this year, as well as plans to reinforce the industry, where energy plays a strategic role.

Rodríguez stated that “the growth of the hydrocarbons sector will allow for greater economic development and new opportunities for companies in the area.”

M.Pino

Source: elpublicotv

(Reference image source: Aleksey Malinovski on Unsplash)

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