Venezuela and Saudi Arabia make progress in cooperation in the energy field

Published at: 19/05/2025 03:12 PM

The Minister of People's Power for Foreign Affairs, Yván Gil, held a meeting this Monday with the Saudi Arabian ambassador to Venezuela, Abdullah Muhammad Al Saihani, “with the objective of further strengthening bilateral ties and cooperation in international forums in the energy field.”

Through his social networks, the Venezuelan Foreign Minister explained that during the meeting, held in his office, “we expressed our firm willingness to continue strengthening our economies and consolidating our diplomatic alliances.”

Caracas and Riyadh established diplomatic relations in 1952, based on solidarity, mutual respect and cooperation. In 1960, both nations, in recognition of their potential in the oil market and to guarantee fair and stable prices, founded the Organization of Petroleum Exporting Countries (OPEC), together with Iraq, Iran and Kuwait.

With the arrival of the Bolivarian Revolution and Commander Hugo Chávez, the relationship between the two nations advanced to a new phase, which laid the foundations for the holding of the First Joint High-Level Commission between Venezuela and Saudi Arabia in 2015, so that several multilateral and bilateral agreements have now been signed that draw a road map for development under a win-win vision.

MPPRE