Venezuela signs deal with US energy giant to rebuild power grid
Venezuela's government said it has signed a framework deal with a US energy giant to rebuild a power grid battered by years of blackouts. The move, taken while Caracas and Washington remain at odds, is being read as a signal of economic opening from the Maduro administration, the BBC reports.
Venezuela's government announced a framework agreement with a US energy giant to rebuild a national grid plagued by chronic outages, the BBC reported. The official statement listed modernization of generation, transmission, and distribution infrastructure, loss reduction, and recovery of industrial customers as core goals of the multi-year programme.
The deal arrives while Washington's sanctions regime against Caracas remains in force, raising questions about how the project will operate under existing licensing rules. Officials suggested oil-sector precedents such as Chevron licenses could provide a template, though no detail was given on financing sources or timeline.
Venezuela's per-capita electricity consumption has more than halved over the past decade, cited as a leading cause of the contraction in industrial output. For investors, the file could shape whether Venezuelan energy export capacity gradually rebuilds. Not investment advice.
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