Venezuela going for broke
The Maduro government wants a new deal on its debt. Things are going to get messy
The inevitable has come to pass. During a 2 November national broadcast, Venezuela's President Nicolás Maduro said the country could no longer pay its debts and he was setting up a commission to negotiate a restructuring with holders of sovereign and state oil company PdV bonds. Maduro blamed an "economic war" waged by the Trump administration, saying recent sanctions had given his government no choice but to seek a new debt deal. In truth, the sanctions are a useful scapegoat. Venezuela's economy has been crushed by economic mismanagement, the fall in the oil price and the heavy debt burden accumulated when prices were high. The government has only been able to keep up with the payments by
Also in this section
18 February 2026
With Texas LNG approaching financial close, Alaska LNG advancing towards a phased buildout and Magnolia LNG positioned for future optionality, Glenfarne CEO Brendan Duval says the coming year will demonstrate how the company’s more focused, owner-operator approach is reshaping LNG infrastructure development in the North America
18 February 2026
The global gas industry is no longer on the backfoot, hesitantly justifying the value of its product, but has greater confidence in gas remaining a core part of the global energy mix for decades
18 February 2026
With marketable supply unlikely to grow significantly and limited scope for pipeline imports, Brazil is expected to continue relying on LNG to cover supply shortfalls, Ieda Gomes, senior adviser of Brazilian thinktank FGV Energia,
tells Petroleum Economist
17 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
