During an interview with Time magazine, President Delcy Rodríguez addressed the global energy situation and Venezuela’s role in this context. In conversation with correspondent Eric Cortellessa, she referenced data from the International Energy Agency that indicates that 80% of oil wells worldwide are experiencing a process of decline.
She stated that «90% of global investment is directed toward halting this decline» and highlighted that Venezuela possesses 303 billion barrels of proven oil reserves. She added that a significant portion of these deposits remains untapped, which makes the country a relevant option for future energy supply.
Regarding the conditions for foreign investment, the national dignitary mentioned that Venezuela has developed innovative mechanisms and legal reforms aimed at improving the return on investment and strengthening legal security. These actions, as she explained, are framed within the constitutional framework that guarantees private property and the participation of the private sector in the economy.
As an example of these policies, the head of state announced the recent signing of a new agreement with the Repsol company to expand its operations in the country.
Furthermore, she highlighted Venezuela’s capabilities beyond the energy sector, mentioning its potential in gas, mining, agriculture, and tourism, which positions the nation as a country with prospects for sustainable development and security in energy matters.