Venezuela expects billions in injections into the oil industry

Venezuela expects to invest nearly $76 billion in the oil industry over five years. This is reported by Reuters with reference to acting President Delcy Rodriguez.

According to her, the bilateral agreement with the United States covers 17 oil fields and provides for the drilling of 250 rigs.

In total, the parties signed 61 agreements as part of a broader package. Rodriguez said the investment would benefit both Venezuela and its partners.

It also announced the restoration of production in the state of Zulia: from 70 thousand to 370 thousand barrels per day. By the end of the year, 400,000 are expected. After the ouster of Nicolas Maduro, the country reopened the energy sector to foreign investment.

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