Venezuela’s Minister of Hydrocarbons, Paula Henao, has clarified that Venezuela maintains “control and ownership” of its oil resources following a recent agreement with the United States. Henao described the arrangement as a “commercial agreement” designed to attract investment and foster technological advancements within Venezuela. The statement aims to quell any concerns regarding sovereignty over its natural resources. Details of the agreement remain limited, but the Venezuelan government insists its core ownership remains intact. This move signifies a potential shift in Venezuela’s energy sector, seeking to revitalize production through foreign collaboration. The agreement could potentially ease sanctions and unlock vital funding for Venezuela’s oil industry. The Minister stressed the deal focuses on facilitating commerce and technological exchange within Venezuela.