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      Venezuela and TotalEnergies Sign Memorandum to Revitalize Oil Sector

      Venezuela has signed a memorandum of understanding with TotalEnergies, a French multinational integrated oil and gas company, as part of efforts to revitalize its struggling oil sector. This agreement is seen as a significant step towards enhancing collaboration between the Venezuelan government and foreign investors in the energy industry.

      The memorandum aims to facilitate investments and technological support to boost oil production in Venezuela, which has faced severe declines in output in recent years due to economic sanctions and mismanagement. The partnership with TotalEnergies is expected to bring much-needed expertise and resources to help restore the country's oil production capabilities.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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