Italy's Eni S.p.A. announced on Saturday it is working with Venezuelan officials to help revitalize the country's energy sector, hours after the U.S. announced a deal to secure majority control of nearly a fifth of Venezuela's vast oil reserves. The Rome-headquartered firm said it is working with Venezuelan counterparties and any other authorities involved to support the revitalization, but cannot yet comment on next steps, with additional details to be disclosed once finalized. The statement followed President Donald Trump's Friday announcement of a deal with private business to secure majority control of over 65 billion barrels of Venezuela's proven oil reserves, more than double the size of U.S. oil reserves.
Eni S.p.A.Eni partners with Venezuela to revitalize its energy sector, aligning with U.S. deal for oil reserves, potentially expanding Eni's access and operations.
