TotalEnergies' (TTE) E&P New Ventures and PDVSA signed a memorandum of understanding on Saturday in Caracas, Venezuela, according to a same-day government statement translated via Google Translate.

Venezuela's Acting President Delcy Rodriguez oversaw the signing of the MoU, which sets up TotalEnergies for a potential return to Venezuela, following similar oil partnership agreements this month with Chevron (CVX), GE Vernova (GEV) and Eni (E), Bloomberg reported Saturday.

PDVSA President Hector Obregon and TotalEnergies' senior vice president for the Americas, Francisco Javier Rielo, signed the agreement, according to the government statement.

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