Acting President of Venezuela Delcy Rodríguez signed strategic agreements with the Spanish energy company Repsol. The aim of these arrangements is to revive the national oil and gas sector and attract foreign investment. Repsol, which has been operating in the country for more than 30 years, confirmed its interest in taking an active role in developing a sector that is key for Venezuela. The agreements are the result of constructive dialogue between the government and energy companies.
Rodríguez assured international investors of the legal security guaranteed by the Venezuelan state. These steps are supported by a recent partial reform of the Organic Law on Hydrocarbons, approved in January 2026. The new legal framework is adapted to global energy challenges and prioritizes increasing national production. Venezuela intends to strengthen its position as an energy power, for which it considers strategic partnerships with companies like Repsol extremely important, especially given the current geopolitical situation.
Full version: Presidenta (E) Delcy Rodríguez firma acuerdos estratégicos con Repsol para fortalecer el sector hidrocarburos en Venezuela