A press conference on the energy agreement between Venezuela and the US was held at Miraflores Palace.By Yuleidys Hernández Toledo – Sep 2, 2026More investment, job creation, and development are among the benefits that will flow from the energy agreement signed on Friday, August 28, between Venezuela and the United States. The details were presented on the afternoon of Wednesday, September 2, by president Delcy Rodríguez and US Energy Secretary Chris Wright, following a meeting at the Miraflores Palace in Caracas and the signing of various agreements with international companies, including Chevron, ENI, and General Electric.“The agreements we have signed are of mutual benefit, and I want to emphasize that there are highly skilled oil and gas workers here who are ready to receive these investments, as well as companies and industries that are absolutely ready to get started,” Acting President Rodríguez told journalists outside the Palace.For his part, the US official—who arrived in Venezuela the previous evening—stated before fielding questions that “on Friday, a monumental, immense agreement was signed between the US government and the company NABEP— North American Blue Energy Partners. It is an agreement whose scale is immeasurable, and so is its ambition. And the ambition of this agreement is to grow Venezuela’s oil industry to unprecedented levels.”“The mutual objective of this agreement is to make massive investments in Venezuela, boost the economy, reduce inflation, and improve the quality of life in the country,” he added.The company selected by the USDuring the press conference, Acting President Rodríguez noted that the “company selected by the US side—and I should mention that it was producing in Venezuela even under very harsh sanctions—was the first to test the CPP, the Productive Production Agreement.”She added that she agrees with Wright that the US chose “the second-best producer Venezuela had,” while highlighting that the company is led by a Venezuelan—a reference to Alejandro Betancourt.She also noted that one of the agreements signed on Wednesday is with a company called Primavera, one of whose partners is Venezuelan.“I reiterate my call for talented young Venezuelans to return to their country,” she added.Job creation and strengthening of social protectionWhen asked about the benefits of the agreement between the two countries, Delcy Rodríguez said: “With every job that is created—and it will happen very quickly—I will be showing Venezuela the benefits this brings to our country.”She revealed that the national government is in contact with chambers of commerce, including Fedecámaras. “All companies in the oil, metallurgical, and industrial spheres are already being activated. We are also working with the services sector—hotels, food—because these large-scale projects will require those types of services.”Referring to the development of greenfield blocks, she noted that the transformation will be visible in areas that are currently vast open plains with no development whatsoever. “There, we will see electricity, water, and infrastructure.”She also noted that for years it has been said that Venezuela holds the world’s largest oil reserves—”and it’s true— but countries ranked eighth, ninth, or tenth are the world’s leading exporters, while Venezuela sits at number 20.”“I want workers to have good salaries,” said the acting president. “I want a citizen who goes to a hospital to be well attended and to find it properly equipped. I want quality education, and I want our entire social protection system to be strengthened through the benefits we will receive from these investments. The alternative is to sit back contemplating those fields out there, lost, with nothing being done.”“We need to raise Venezuela’s human development index with social justice and equity,” she added.She had previously stated that “Venezuela is much broader than our differences.”A two-part agreementWhen asked where the oil agreement with the US was signed, Rodríguez replied: “This agreement had two parts—one in the United States and one in Venezuela.” Wright later noted that the meetings took place through “very meticulous” conferences.Media that judge before courts doWhen asked about the ongoing judicial investigation in Venezuela against businessman Alejandro Betancourt, director of NABEP, Rodríguez confirmed that “in Venezuela, the case was dismissed years ago” and that he “has no case in the United States of America.”“Very often, a person is tried in the media before they are tried in the courts,” she told journalists.She recalled that she had been accused for five years in the Spanish media of having flown a Falcon jet full of gold to Spain and of having violated that country’s sovereignty while under sanctions. “All lies,” she said, adding that when the truth came out—that none of what the Spanish media had accused her of had actually occurred—the European press gave it three lines.Wright on Alejandro BetancourtWhen pressed on Alejandro Betancourt, director of NABEP, who has, in the past, been the subject of allegations, Wright stated: “There will always be people who want to attack the efforts both countries are making to advance their oil relationship. This agreement that Venezuela is signing with the United States is a winning agreement in which both sides will obtain immense benefits. There will be more investment for Venezuela; this will improve the lives of Venezuelans. It is a win–win agreement.”He highlighted that Chevron is prepared to invest in technology and extraction and that “we are partnering with NABEP, which is a solid company.” In business, he noted, “it’s not just about choosing the right words—it’s about showing results. And the company that has shown clear results in Venezuela is NABEP.”Exploration agreements: benefit for both countriesBefore the question round began, Delcy Rodríguez referred to exploration agreements also signed on Wednesday. “We are entering a new phase of exploring new fields and new opportunities for Venezuela.” She also mentioned agreements with General Electric aimed at rehabilitating the country’s severely damaged National Electrical System.She stressed that Venezuela will welcome the flow of capital, investment, technology, and capital goods “that will be for Venezuela’s development,” and expressed hope that Venezuelan products will “continue to be an extraordinary export when they reach the United States, Europe, and other regions of the world.”Massive investments in VenezuelaAt the start of his remarks, Wright described it as an excellent week to be in Venezuela and stated that US president Donald Trump has “a clear vision for Venezuela—to bring peace, freedom, opportunity, and prosperity to every Venezuelan.”Regarding the agreements signed on Wednesday with multinationals, including Chevron, ENI and General Electric, he said they “will represent tens of billions of dollars in investments for Venezuela—direct investments that will have a direct impact on the National Electrical System, on the oil and gas industry and on the entire energy sector.”Solidarity following double earthquakeWright took the opportunity to express solidarity with Venezuela following the double earthquake of June 24. He said his heart was “saddened” by the tragedy. “I felt great pain and great fear, and all [US] Americans felt that pain and that fear too—and that translated into a demonstration of solidarity that made it possible to bring aid to Venezuela at such a difficult moment for the country.”Wright’s second visitThis is Wright’s second visit to the country this year, made in the context of the historic oil agreement recently announced between the Venezuelan and US governments. He was in Venezuela on February 10 and 11, when he met with president Delcy Rodríguez and established an energy agenda.Speaking to the press on February 11, the US Energy Secretary acknowledged the damage caused by the unilateral coercive measures imposed by his country against Venezuela and assured that the administration “is working seven days a week” to issue licenses allowing “Venezuelan companies to buy inputs, invest their funds, increase oil production, create new jobs, and generate export revenues.”“All of this has been a restriction on the country in the past, and we want Venezuela to be free to have these things,” he said at the time—acknowledging the damage caused by the unilateral coercive measures his country has imposed on Venezuela for more than a decade.Prior to his first visit, Wright had denied that the White House’s ambition for Venezuelan oil was related to the US bombardments against the country — an action explicitly admitted by US President Trump himself, Secretary of State Marco Rubio and Defense Secretary Pete Hegseth.Wright is the founder of Liberty Resources and Liberty Energy, companies prominent in the hydraulic fracturing sector. He was nominated by Donald Trump as the 17th US Secretary of Energy on November 16, 2024, and confirmed by the US Senate on February 3, 2025.The US-Venezuela Oil Deal: Beyond the Numbers (Diario VEA)Translation: Orinoco TribuneOT/CB/SL