Venezuela signs oil and gas deals with US companies after Maduro ouster

Caracas, Venezuela - Venezuela signed deals with US companies on Thursday in a bid to boost oil and gas production after Washington deposed leftist President Nicolas Maduro in January.

Interim President Delcy Rodriguez speaks during a press conference after a signing of an agreement ceremony between Chevron Venezuela and the national government at the Miraflores Palace in Caracas on April 13, 2026.   © JUAN BARRETO / AFP

The South American nation is currently led by interim president Delcy Rodriguez, who is cooperating under heavy US pressure to meet President Donald Trump's demands for access to the country's vast oil supplies.

Rodriguez, who was Maduro's vice president before US forces abducted him in a stunning raid in January. Trump made clear that regime change and Venezuela's oil riches were the major goals of the operation.

The possibility of increased Venezuelan oil output comes as global markets face disruptions to Middle East oil supplies from the US-Israeli war on Iran which have driven up oil prices.

Gaza aid flotilla crew members intercepted by Israel disembark in Crete as two activists remain in detention
Israel-Gaza War Gaza aid flotilla crew members intercepted by Israel disembark in Crete as two activists remain in detention

Under the agreements, US-based firms Hunt Overseas Oil Company and Crossover Energy will operate in the Orinoco Belt, where Venezuela's oil reserves are primarily concentrated.

Rodriguez said the deals marked "where the interests of the United States and Venezuela come together."

"Please convey to President Trump, who is a man of action... that we have pledged our word to build solid foundations for long-term relations between the United States and Venezuela," she said.

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US and Venezuela resume direct air travel

Venezuela has signed agreements with various multinational oil companies, including Chevron, Eni, and Repsol, after reforms to liberalize the energy sector.

US envoy Jarrod Agen, who arrived in Caracas on Thursday as the two countries resumed direct air travel after seven years, attended the signing.

American Airlines subsidiary Envoy Air and Venezuela's Laser Airlines will operate flights between Caracas and Miami starting this week.