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Venezuela leader Rodriguez signs agreement with French Oil Company Total Energies - Finance news and analysis from Global Banking & Finance Review
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Venezuela leader Rodriguez signs agreement with French Oil Company Total Energies

Published by Global Banking & Finance Review

Posted on September 19, 2026

1 min read

· Last updated: September 19, 2026

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Venezuela Signs Memorandum with French Oil Giant Total Energies

Overview of the Venezuela-Total Energies Agreement

Background and Context

CARACAS, Sept 19 (Reuters) - Venezuela Interim President Delcy Rodriguez on Saturday signed a memorandum of understanding with French oil and gas company Total Energies, according to local media.

Recent Oil Deals in Venezuela

It was the latest of a flurry of oil deals signed between multinational oil companies and Venezuela's new government, following the U.S.'s toppling of former president Nicolas Maduro in January.

Details of the Total Energies Memorandum

No details about the deal with Total Energy were immediately available.

Reporting Credits

(Reporting by Deisy Buitrago in Caracas, writing by Laura Gottesdiener)

Key Takeaways

  • The agreement with TotalEnergies follows recent high‑profile oil pacts with Chevron, Eni, GE Vernova, and others aiming to boost output and modernize infrastructure as part of U.S.-facilitated reforms (efe.com)
  • This flurry of deals builds on a controversial U.S.-Venezuela pact granting access to 17 oil fields and targeting over 1.5 million barrels per day over 25 years, potentially generating $209 billion in state revenue (spglobal.com)
  • Critics warn these agreements may lack legitimacy amid questions over their duration—U.S. sources say 100 years, Venezuelan government says 25—and fears persist about sovereignty, transparency, and long‑term benefits to Venezuela (elpais.com)

References

Frequently Asked Questions

Who signed the agreement with Total Energies on behalf of Venezuela?
Interim President Delcy Rodriguez signed the agreement for Venezuela.
What type of agreement was signed between Venezuela and Total Energies?
A memorandum of understanding was signed between Venezuela and Total Energies.
Are the details of the Total Energies deal publicly available?
No details about the agreement with Total Energies were immediately available.
What other recent events preceded the oil deal with Total Energies?
The deal follows a series of oil agreements after the U.S. toppled former president Nicolas Maduro.

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