Oilfield workers hold a flag with the PDVSA logo on it
Venezuela’s true oil potential
The Latin American producer’s crude prospects rely on a multi-pronged approach where even the relatively easy wins will take considerable time, effort and cost
US President Donald Trump’s vision of American oil companies investing billions to revive the Venezuelan oil industry after the capture of its leader Nicolas Maduro could soon become reality. The wheels are already in motion after a US-Venezuela energy deal was announced that would include some sanctions being lifted, Venezuelan crude being sold on the global market and greater transparency over oil sales. But after the fanfare, even the first small steps to revitalise the Latin American country’s decrepit oil sector look more like giant leaps given it will require a stable and encouraging political environment, lucrative fiscal terms, and favourable oil prices once oil volumes are both grow
Also in this section
21 April 2026
After overcoming a COVID-induced demand collapse with several years of successful market management, geopolitical events have conspired to provide the pact’s biggest test to date
21 April 2026
The regime’s policy of using nuclear ambiguity as a deterrent may have failed but it has realised it has other cards to play, while its neighbours are reappraising their approach to security
21 April 2026
As the global energy system undergoes a fundamental realignment, Algihaz Holdings has established itself as a critical player bridging conventional energy markets and the next generation of renewable infrastructure.
21 April 2026
The 25th WPC Energy Congress is taking place from 11-15 October 2026 at the Riyadh Front Exhibition & Conference Center.
