Italian multinational negotiates with Venezuela to revive energy sector amid US offensivePhoto by Earth Photart on Pexels
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Italian multinational negotiates with Venezuela to revive energy sector amid US offensive

oglobo29 August 2026 at 15:37

The Italian group Eni stated it is working with Venezuelan authorities to help revive the country's energy sector. The company issued a statement this Saturday informing that it is cooperating with Venezuelan counterparts and all other relevant authorities to support the sector's revitalization. Eni said it cannot yet comment on the next steps and will provide more details when the negotiations are concluded.

The Italian company's move comes at the same time as the United States advances to gain greater control over Venezuela's vast oil industry. President Donald Trump's administration is pressing for a prominent role in the sector, including a plan under which the US would control 55% of the effective production of a joint venture covering fields with approximately 65 billion barrels in proven reserves.

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