CARACAS, Aug 29 — Caracas on Friday confirmed that Venezuela had signed a major oil deal with the United States, giving Washington majority control of 65 billion barrels of proven petroleum reserves.

The “historic” agreement would “have a significant impact on the rebirth of our nation,” interim leader Delcy Rodriguez wrote on social media, hailing a potential investment of “more than US$100 billion (RM394 billion) and more than US$209 billion (RM824 billion) in tax revenue for the State.” — AFP