Venezuela Doubles Down on Energy Alliance with Russia

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Why This Matters

Venezuela has extended its oil-producing joint ventures with Russian companies for 15 years, solidifying its strategic alliance with Russia until 2041.

Market Impact

Market impact analysis based on bullish sentiment with 69% confidence.

Sentiment
Bullish
AI Confidence
69%

Article Context

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Venezuela’s Parliament has approved a 15-year extension of the country’s oil-producing joint ventures with Russian companies, Venezuelan Vice President Delcy Rodriguez said on Telegram as the South American country doubles down on its strategic alliance with Russia. The 15-year extension now allows the joint ventures established under the strategic energy alliance between the two countries to continue operations until 2041, Rodriguez said, adding it is a crucial step toward Venezuela’s energy development. “No…

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Original article published by OilPrice.com on November 21, 2025.
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