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Venezuela and TotalEnergies Sign Memorandum for Oil Company's Return

Source Summary

Venezuela and TotalEnergies SE signed a memorandum of understanding on Saturday to facilitate the French oil company's return to operations in the country. The agreement sets the framework for TotalEnergies to resume its business activities in Venezuela.

Why it matters

The agreement marks a significant step in restoring foreign oil investment in Venezuela after years of international sanctions and operational withdrawals.

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