Delcy Rodríguez teams up with TotalEnergies on Venezuela energy
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JAKARTA – The Venezuelan government has signed a memorandum of understanding (MoU) with TotalEnergies E&P New Ventures, a subsidiary of French energy company TotalEnergies, to strengthen cooperation in the energy sector. Venezuela's interim President Delcy Rodríguez led the signing of the MoU at the Miraflores Palace in Caracas on Saturday (19/9), as reported by Reuters. The agreement was signed by Petróleos de Venezuela (PDVSA) President Hector Obregon and TotalEnergies Senior Vice President Americas Francisco Javier Rielo. The Venezuelan government has not disclosed the investment value or details of the projects covered by the agreement. The MoU is among the latest agreements between Venezuela and foreign energy companies as Caracas seeks to attract capital and technology to revive its oil and gas sector. Venezuela previously amended its hydrocarbons regulations to give private and foreign companies greater scope to operate in the sector. The reforms, approved in January 2026, allow private and foreign companies to operate through new contracts or cooperation schemes with PDVSA. The rules also give private producers greater flexibility in managing revenues and marketing their output. The Venezuelan government said the regulatory changes are aimed at attracting investment and increasing oil and gas production. Rodríguez previously said Venezuela has a legal framework to...
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