Venezuela in September 2026: the most important developments in economy
Venezuela's economic news in September 2026 centered on an oil deal with the United States announced by President Donald Trump. The White House released details in early September: the Pentagon would hold a 35% stake in a new company, the US-backed company NABEP would take over oilfields previously operated by Chinese and Russian firms, and Chevron neared an agreement to operate two fields in the Orinoco Belt. Reported terms included US purchases of Venezuelan oil at cost and a veto power in a 100-year concession. Trump said the deal would lower gas prices. On September 2, Chevron and Eni pledged $7 billion to double Venezuela's oil output.
The deal drew scrutiny over its partner, Alejandro Betancourt, a businessman accused of money laundering, and over the Pentagon's stake. China demanded safeguards, and reports said the arrangement threatens China's oil-backed loans. An opposition leader questioned the deal, and the plan drew anger in parts of South America. Eni said it hoped to recover debt.
Later in the month, US oil companies signed deals with Venezuela as Trump eased drug sanctions, trading firms and Chevron pursued further agreements, and Halliburton signed energy pacts with Eneva and WESCA. Venezuela neared a deal to move $4 billion in gold reserves to New York. A Venezuelan airport resumed commercial flights.
by WorldBrief & Maksim Micheliov | AI-generated summary
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