Venezuela signed major energy agreements with Chevron, Eni and GE Vernova in Caracas under Acting President Delcy Rodriguez and U.S. Energy Secretary Chris Wright, while opposition leader and Nobel Peace Prize winner Maria Corina Machado said long-term oil investment requires a serious, democratic government. Chevron plans to invest more than $7 billion over five years across its PDVSA joint ventures to raise production to about 600,000 barrels per day and received additional Orinoco Belt acreage. Eni signed a 25-year contract to become exclusive operator of Junin 5, assuming full technical, financial and commercial control, with production targeted at 400,000 barrels per day by the end of the decade and annual investment of about $1.5 billion. The agreements are separate from a Caracas-Washington arrangement covering U.S. access to 17 oilfields and seek to revive an industry producing about 1.25 million barrels per day, versus more than 3 million bpd in the late 1990s. Machado questioned the agreements’ scope, signatories, guarantees and benefits for Venezuelans, while U.S. officials defended the broader deal and said elections are not yet appropriate.