Reshuffle in Caracas
New appointments show Maduro plans to hold his course
Venezuela's epic economic distortions and political entanglement have long delayed oil and gas industry investment. Yet over the past two years, oil minister and PdV president Eulogio del Pino have begun to revive enthusiasm in the country's Orinoco Oil Belt, some marginal oilfields and, especially, in Venezuela's offshore natural gas sector. But del Pino and his team have faced an uphill battle coordinating with President Nicolás Maduro's patchwork cabinet. Oil-policy adjustments and commercial negotiations with investors must be accompanied by both macroeconomic and other reforms. Big deals require a big picture government buy-in. To date, with marginal political clout, the oil ministry ha
Also in this section
10 March 2026
From Venezuela to Hormuz, the US—backed by the most powerful military force ever assembled—is redrawing not only oil and gas flows but also the global balance of energy power
10 March 2026
By shutting the Strait of Hormuz, Iran has cut exports of distillate-rich Middle Eastern crude, jet fuel and diesel, and is holding the energy market hostage
10 March 2026
Eni’s director for global gas and LNG portfolio, Cristian Signoretto, discusses how demand will respond to rising LNG supply, and how the company is expanding its own gas and LNG operations through disciplined, capital-efficient investments
9 March 2026
Petroleum Economist analysis sees increases in output from Saudi Arabia, Venezuela and Kazakhstan among others before region’s murky descent
