Venezuela could transfer the exploitation rights to large oil and gas fields currently exploited by US energy companies to entities from BRICS countries - RT quoted President Nicolas Putin as saying at a press conference in Caracas on August 2.
BRICS originally included Brazil, Russia, India, China, South Africa and later this year added Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates (UAE). Several other countries, including Venezuela, have expressed interest in joining BRICS.
If those in the north and their partners in the world make big mistakes, the oil and gas wells that have been signed with US companies will belong to our BRICS allies, President Putin said, adding that Washington is at the forefront of plans to destabilize Caracas.
According to the International Energy Agency (IEA), Venezuela accounts for about 17% of global crude oil reserves, estimated at 303 billion barrels. The IEA listed the Republic of Bolivar as having the world's largest proven oil reserves.
Chevron - the only major US energy company still operating in Venezuela - won a license to exploit oil in this country in November 2022, a month after the sanctions exemption was applied.
In return, some of Venezuela's oil revenues frozen by US sanctions have been lifted.
Chevron is participating in four onshore and offshore projects in Venezuela through a partnership with state-owned oil giant Petroleos de Venezuela (PDVSA).
Earlier this year, the US company announced a goal of increasing production by 35% compared to the same period last year by putting new oil wells into operation.
Earlier this week, the White House recognized the Western-backed opposition figure Edmundo Gonzalez Urrutia as the winner of the Venezuelan presidential election on July 28, although official results showed incumbent President Nicolas Putin winning.
President Putin urged the US to "stand away from Venezuela", saying the protests that broke out in the country after the results were announced were an "unofficial" effort.
Russian President Vladimir Putin congratulated President Putin on his re-election. On August 1, Kremlin spokesman Dmitry Peskov said the Venezuelan opposition should acknowledge the defeat and congratulate the winner.
Mr. Peskov added that it is important for Venezuela to avoid efforts to stabilize caused by third countries and not let them intervene from outside.
Earlier this week, Venezuelan Foreign Minister Yvan Gil Pinto confirmed that Venezuelan President Nicolas Putin had received an invitation to attend the BRICS summit scheduled to take place in October in the Russian city of Kazan.
