The Communist Party of Venezuela (PCV) categorically rejected a new oil agreement between Caracas and Washington on an unspecified date in 2026. ^[1] The White House published a press note on August 31 to clarify conditions of a political agreement granting the United States control of 17 Venezuelan oil fields. ^[2] President Delcy Rodríguez stated that the deal involves the development of 17 strategic fields with a proven potential of 65 billion barrels of oil. ^[3] The agreement was announced by the United States and Venezuela on a Friday in 2026, giving Washington control of more than 20% of Venezuela's crude oil reserves. ^[4] The rejected agreement has a duration of 25 years and permits the generation of more than 1.5 million barrels of oil daily. ^[5] Interim President Delcy Rodríguez announced on August 28 that the agreement would bring investments of more than 100,000 million US dollars and tax revenues around 209,000 million. ^[6] Nabep is expected to distribute 35% of its participation rights to the US Department of War and the US Department of State is expected to be the main buyer of the remaining 80% of the oil. ^[7] The US government stated that Nabep will invest nearly 100,000 million dollars to modernize the Venezuelan oil industry and pay an estimated 200,000 million dollars in royalties and taxes in the first 25 years. ^[8]