National Assembly Endorses U.S.–Venezuela Binational Energy Agreement

September 2026

Executive Summary

On September 1, 2026, the Venezuelan National Assembly published in Official Gazette No. 43,449 an “Agreement in Support of the Binational Energy Agreement between the Bolivarian Republic of Venezuela and the United States of America.” The resolution formally endorses the Binational Energy Agreement as a strategic instrument intended to support Venezuela’s economic recovery, attract large-scale capital investment, and promote technological and productive development over the medium and long term.

The National Assembly expressly frames the bilateral arrangement around a complementary model in which Venezuela contributes its energy resources, existing infrastructure, geographic position, and workforce expertise, while the international counterpart contributes technology and financing.

From an investment perspective, this is a significant policy signal. The resolution indicates institutional support in Venezuela for a broader role of international capital, technology and energy cooperation with the United States, while expressly preserving Venezuelan sovereignty and State ownership over hydrocarbon resources.

Key Elements

1. Formal institutional support for U.S.–Venezuela energy cooperation.
   The National Assembly formally endorses the Binational Energy Agreement and characterizes it as a strategic, high-impact instrument for economic recovery, capital investment and technological and productive development.
2. Technology and financing are central components.
   The resolution expressly identifies a complementary structure: Venezuela provides energy potential, infrastructure, geographic position and experienced human resources, while the international counterpart contributes technology and financing. This language is particularly relevant to U.S. operators, oilfield service companies, technology providers, engineering companies and investors evaluating Venezuela market-entry opportunities.
3. Expected investment and revenue generation.
   The National Assembly states that the Binational Energy Agreement is expected to generate significant revenues for Venezuela based on the applicable economic, fiscal and production assumptions during the life of the relevant project or projects.
4. Sovereignty over hydrocarbons remains expressly protected.
   The resolution emphasizes that the operational framework must preserve the Republic’s absolute sovereignty and ownership over hydrocarbon deposits and natural resources. It also calls for transparency regarding production, investment and revenues and compliance with the Constitution and applicable hydrocarbon legislation.
5. Fiscal and operational conditions remain important.
   The National Assembly calls for fiscal and operational conditions that ensure what it describes as a fair distribution of revenues while maintaining State ownership of natural resources. Accordingly, implementation of projects under the bilateral framework should continue to be evaluated in conjunction with Venezuela’s applicable hydrocarbons, fiscal and contractual regime.

ENTRA Assessment

The publication represents an important additional step in the institutionalization of the emerging U.S.–Venezuela energy relationship. In combination with Venezuela’s evolving hydrocarbons framework, it provides a potentially significant policy foundation for increased U.S. private-sector participation in the recovery and expansion of Venezuela’s energy industry.

Of particular importance for investors and service companies is the National Assembly’s explicit recognition that Venezuela’s recovery requires large-scale capital investment and advanced technology, and that international cooperation is expected to provide technology and financing.

However, the publication should not be interpreted as a stand-alone authorization for any particular transaction or activity. The Gazette publishes the National Assembly’s endorsement, rather than the complete underlying Binational Energy Agreement. Specific projects must therefore be analyzed under the applicable Venezuelan hydrocarbons framework, contractual and fiscal requirements, and applicable U.S. sanctions and regulatory requirements.

Bottom Line: The resolution is a strong Venezuelan institutional signal favoring expanded bilateral energy cooperation with the United States, with U.S. technology, financing and private investment positioned as key components of Venezuela’s energy reactivation, while maintaining Venezuelan State ownership and sovereignty over hydrocarbon resources.