Venezuela’s National Assembly President reaffirmed sovereign control over the country’s oil revenues and reported 71 active energy agreements alongside 44 contracts under negotiation, framing the figures as evidence of a sector revival after years of financial restrictions.

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The statements came amid what officials called a strategic reconfiguration of the Venezuelan hydrocarbon industry. After years of intense global financial restrictions, the gradual operational reactivation of agreements between state-owned oil company Petroleos de Venezuela (PDVSA) and international firms aims to restore a steady flow of foreign currency into the national treasury.

“No foreign agency or international financial entity administers or safeguards the public funds that enter the country from hydrocarbon sales,” National Assembly President Jorge Rodriguez said.

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Rodríguez detailed that the money enters the public treasury under the supervision of authorized national banks, and he ruled out any external trust or any management of accounts by third parties outside the country’s institutions. In this sense, he called autonomy over foreign currency “a non-negotiable principle” for the country’s macroeconomic stability.

71 agreements are currently in force, while another 44 contracts are being negotiated. For the government, that volume confirms an operational momentum geared toward diversifying investment across the country’s main extraction fields.

The National Assembly President presented this dynamism as the result of a deliberate push to reopen the sector to international capital without surrendering control. Over the past several years, sweeping financial measures limited Venezuela’s ability to sell crude, collect payments and maintain production infrastructure. The current wave of deals represents a step-by-step return to commercial activity.

#EnVideo📹 | Coordinador del diálogo por el Gobierno Nacional, Jorge Rodríguez, aseveró que Venezuela mantiene el control sobre los recursos financieros obtenidos a través de la comercialización de petróleo hacia distintos países del mundo. pic.twitter.com/MUoEuwKXQI

— Ministerio de Comunicación e Información (@mippci_ven) October 22, 2026

Text reads: “Coordinator of the dialogue by the National Government, Jorge Rodríguez, asserted that Venezuela retains control over financial resources obtained through the marketing of oil to different countries in the world.”

Each reactivated agreement carries a single objective, officials indicated, the capture of hard currency for the public coffers. That revenue is meant to fund the productive apparatus and national infrastructure rather than remain subject to outside oversight.

By spreading investment across the country’s principal extraction zones, the government seeks to reduce dependence on any single field or partner.

Sovereign Control Defended

Reaffirming sovereign control over monetary flows stands as a central pillar of the government’s message. The leadership projected institutional stability at a moment when Washington continues to review and adjust the licenses it grants for oil operations.

Rodríguez also denounced continuous pressure and unilateral coercive measures against the country’s financial system by foreign powers. He said that, despite what he described as an economic siege, the government has consolidated alternative mechanisms to receive payments directly for oil-product exports.

Against that backdrop, the government is working to shield energy agreements legally, dismiss any suggestion of foreign tutelage and guarantee direct financing for public budgets.

Official strategy insists that autonomous management of oil income is an indispensable guarantee for preserving fiscal balance, defending the national currency and sustaining social development programs.

For the Bolivarian government, legal protection of the energy agreements goes hand in hand with financing priorities. The revenue is meant to flow directly toward the productive apparatus and public infrastructure, a framework that Rodriguez described as essential to institutional stability.

Acting President Delcy Rodríguez announced Wednesday that Venezuela will hold its Youth Popular Consultation in February 2027, a vote she framed as a platform for young people to convert their talent, creativity and ingenuity into a driving force for national development.

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Venezuelan Acting President Delcy Rodríguez delivered the announcement during a visit to the Nueve Raíces de Simón communal circuit, where she urged the country’s youth to prepare actively for what she described as a democratic appointment that will mark the direction of the coming year.

Rodríguez said the process aims to vindicate the talent, creativity and ingenuity of the new generations and to propel Venezuela toward fresh development opportunities. The call places younger Venezuelans at the center of a participatory model that has gathered strength since 2024.

RELATED: Venezuela to Begin Funding Projects Selected in Popular Consultation Next Week

The announcement lands days after the Second National Popular Consultation of 2026, held on October 18. It was the eighth nationwide vote of its kind since 2024, and officials described the turnout as massive and successful. That result has now been translated into a fresh appeal aimed specifically at young people, signaling the government’s intention to widen the base of participants in community decision-making.

🗳️🔥 ¡LA JUVENTUD SE PREPARA: NUEVA CONSULTA EN FEBRERO 2027!🇻🇪✨

Tras una participación histórica en la pasada Consulta Nacional Popular, la ruta continúa: ¡Jóvenes de toda Venezuela a prepararse desde ya! 💪🌱

El compromiso no se detiene: es momento de seguir adelante,… pic.twitter.com/YyOteBQqLT

— Ministerio del Poder Popular para la Juventud (@Minjuventud__ve) October 21, 2026

Text reads: “Youth is preparing: new consultation in February 2027! After a historic participation in the last National Popular Consultation, the route continues: Young people from all over Venezuela to prepare now! The commitment does not stop: it’s time to move forward, organize and execute projects that will transform our territories.”

A Record October Turnout

Millions of residents from communities across the country turned out on October 18, prompting the National Electoral Council (CNE) to extend voting by one hour.

The scale of the exercise was measured in large numbers. More than 5,418 communes and communal circuits coordinated the work of over 48,000 communal councils, and voters selected among 37,205 priority community projects eligible for public financing.

Rodríguez has championed the consultation model as a vehicle for what officials call popular power. In separate remarks, she described participation in the October exercise as extraordinary, linking the strong turnout to a broader effort to place public decision-making directly in the hands of organized communities rather than distant institutions.

A Broader Community Voice

One of the most notable features of the October consultation was the first-time inclusion of condominium boards, which put forward 428 projects. Acting President Rodríguez celebrated that milestone on social media, underscoring the importance of keeping decisions about everyday matters firmly in the hands of communities themselves.

The proposals reflected local priorities. Acting President Rodríguez had previously detailed that 14% of the projects corresponded to the water sector, followed by initiatives in road infrastructure, lighting, electricity, public services and productive activities, showing residents directing public resources toward their most pressing daily needs.

With the youth consultation now scheduled for February 2027, the Acting President called young Venezuelans to assume what she called absolute protagonism in the process. Organizers expect the new consultation to build on the machinery tested in October and to channel the energy of younger generations into decisions that will shape the country’s near-term path.