Venezuela needs investment in new wells
Letter from Venezuela: A long journey back from the oil wilderness
Lifting sanctions may still be a bridge too far in becoming a sustainable supplier of crude to the US
There is a great irony in the fact that sanctions-blighted Venezuela has some wiggle room in exporting crude to the US given it would be replacing Russian barrels. But the irony may be moot given the difficulty the Latin American country would have in, first, getting sanctions lifted further and, second, ramping up supplies even if restrictions were eased. After the Biden administration looked to bring in new sources of crude imports following the ban on Russian oil, it decided in November 2022 to give Chevron a six-month licence to expand operations and export Venezuelan oil to the US. But strained relations between Caracas and Washington mean there is unlikely to be a flurry of new opportu
Also in this section
8 January 2026
Indonesia and Malaysia are at the dawn of breathtaking digital capabilities. Their energy infrastructure must keep up with their ambitions
8 January 2026
The next five years will be critical for the North Sea, and it will be policy not geology that will decide the basin’s future
8 January 2026
The region’s access to versatile feedstock, combined with policy support, is setting it up to meet growing demand both at home and abroad
7 January 2026
No longer can the energy source be considered a sidekick to oil in the Middle East and neither should it step aside for less convincing alternatives
