Venezuelan interim president meets with Spanish, French oil executives

CARACAS: Venezuela's state-owned oil company PDVSA said interim president Delcy Rodríguez met with oil executives from Spain's Repsol and France's Maurel & Prom on Wednesday, a month after the United States deposed the country's leftist leader Nicolás Maduro.

In two statements posted to Telegram on Wednesday, PDVSA said Rodríguez held talks with Repsol to "strengthen the country's energy sovereignty through respect and win‑win cooperation" and with Maurel & Prom to consolidate "strategic alliances that reinforce the country's energy production capacity."

Both companies have operated in Venezuela for years through joint ventures with PDVSA, with the Venezuelan government the majority shareholder, and have faced repeated disruptions as a result of US sanctions.

Rodríguez, the former vice‑president who rose to power after Maduro was captured by US forces on January 3, did not issue any statements on the meetings, which were also attended by PDVSA president Héctor Obregón.

Under pressure from US President Donald Trump, Venezuela has overseen reforms to its oil sector that open the door to increased foreign investment.

With the largest proven oil reserves in the world, Venezuela reached a production rate of 1.2 million barrels a day, a sharp increase from the 300,000 barrels a day produced in 2020 but still well below the roughly 3 million barrels a day achieved at its peak.

By RSS/AFP