Venezuela and the United States have established a “long-term productive partnership” in energy, discussing projects in oil, gas, mining, and electricity, announced Venezuela’s acting President Delcy Rodríguez alongside U.S. Energy Secretary Chris Wright following a private meeting in Caracas on Wednesday, February 11, 2026.
A Shift in Relations
Secretary Wright stated that an increase in Venezuela’s production of oil, natural gas, and electricity would improve the quality of life for “all Venezuelans,” and affirmed that President Donald Trump is committed to “making the Americas great again.” Wright brought a message from President Trump, expressing a “passionate commitment” to transforming the relationship between the two countries as part of a broader agenda.
The two nations discussed specific plans to “liberate the Venezuelan economy” and increase opportunities for employment, wages, and overall prosperity through increased production. Rodríguez announced a “long-term productive partnership” intended to drive the bilateral relationship, benefiting both countries.
Easing Sanctions and Rebuilding
The United States, which maintained an oil embargo on Venezuela since 2019, has begun to ease sanctions through licenses authorizing the export of equipment, vessel freight, and certain logistical operations. President Trump signed an executive order to ensure that revenue from Venezuelan oil sales benefits the Venezuelan people and is protected from international litigation. The goal is to increase Venezuelan crude oil production, which reached 1.2 million barrels per day in 2025.
Wright’s visit included meetings with executives from Chevron and Repsol, as well as inspections of oil fields like Petropiar in the Orinoco Belt. The energy agenda includes a $100 billion reconstruction plan and a $2 billion oil supply agreement. The U.S. Department of Energy described the initiative as “historic” and part of a broader agenda to “make the Americas great again,” emphasizing peace and commerce.
Legal Reforms and Future Prospects
A legal reform enacted on January 29th grants operational and financial autonomy to foreign producers and allows for international arbitration in disputes. Venezuela hopes these guarantees will encourage the return of major U.S. Oil companies. Venezuela, with 303 billion barrels in proven reserves, aims to increase production by 18% in 2026. The re-establishment of diplomatic relations, including the reopening of the U.S. Mission in Caracas and the presence of Laura Dogu as the chargé d’affaires, further solidifies the changing dynamic.
Frequently Asked Questions
What type of projects are being discussed between the U.S. And Venezuela?
Projects in oil, gas, mining, and electricity are being discussed, according to the source.
What was the status of U.S. Sanctions on Venezuelan oil prior to this agreement?
The United States maintained an oil embargo on Venezuela since 2019, but has begun to ease those sanctions.
What was the oil production level in Venezuela in 2025?
Venezuelan crude oil production reached 1.2 million barrels per day in 2025.
As the U.S. And Venezuela move forward with this recent energy partnership, what challenges might they face in ensuring the benefits are shared equitably and sustainably?
