Politics
US, Venezuela sign new oil and gold agreements at Houston G20
September 17, 2026 at 07:57 AM
Washington and Caracas signed new deals in Venezuela's oil and gold sectors at the G20 energy summit in Houston, as Exxon Mobil neared a return to the country.
- Harold Hamm's Continental Resources signed a memorandum of understanding with Venezuela's PDVSA to develop the Ayacucho 2 field in the Orinoco basin, holding an estimated 30 billion barrels.
- Officials announced a separate agreement with Heiny Capital to develop gold extraction projects in Venezuela, alongside the oil deals.
- Exxon Mobil is expected to sign its own memorandum with PDVSA this month, covering fields estimated to hold 50 billion barrels, two decades after its Venezuelan assets were nationalized.
- Venezuelan acting president Delcy Rodríguez said the country will retain ownership and sovereignty over its resources.