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US and Venezuela sign new oil and gold deals
The United States and Venezuela announced the signing of new agreements in the oil and gold sectors on the sidelines of the G20 summit. These include the development of an oil field in the Orinoco Basin in Chad, in partnership with the American "Continent Resources" and the Venezuelan National Oil Company. This field contains estimated reserves of around 30 billion barrels of oil, roughly 10% of Venezuela's total reserves. An agreement was also reached to develop gold extraction projects with "Hini Capital." Both parties confirmed that these agreements reflect mutual confidence and represent an important step in Venezuela's energy sector transformation, with the Venezuelan government respecting its sovereignty over its resources. This comes after a U.S. deal considered the largest of its kind since September 2023, when control over about one-fifth of Venezuela's oil reserves was established.
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