Oil Corporations Plan for Massive Profits & Output in Venezuela

Orinoco Tribune: Several international oil companies are outlining plans to expand their operations in Venezuela as the country’s energy sector undergoes regulatory changes. Chevron expects its production to reach approximately 300,000 barrels per day by year-end and plans to invest $7 billion over five years. Meanwhile, NABEP is expanding its drilling and workover rig fleet to increase production across the Orinoco Belt and western Venezuela. LINK

Venezuela Signs 80 Hydrocarbon Agreements with International Companies

Agencia Venezolana de Noticias at Aporrea: Venezuela has signed 80 hydrocarbon agreements with international companies during 2026, according to Hydrocarbons Minister Paula Henao Vera at the ADIPEC conference. She emphasized that the country remains open to foreign investment but requires further sanctions relief to provide investors with long-term security. Henao also highlighted recent changes to the Organic Hydrocarbons Law, including exploration and production contracts and mechanisms for resolving commercial disputes. LINK

NABEP Restarts Key Orinoco Belt Furnace in Continued Production Push

North American Blue Energy Partners at Taiwan Business News / PR Newswire: North American Blue Energy Partners has restarted a furnace at its Zuata 2 (Petrocedeño) facility in Venezuela's Orinoco Belt after five years offline. The company expects the equipment to add between 8,000 and 10,000 barrels per day within the coming weeks. The furnace is essential for heating extra-heavy crude before processing, making its return an important step in restoring production capacity. LINK

Venezuela Seeks More Investment in Energy Sector as It Reforms Hydrocarbon Law

Fareed Rahman at The National: Venezuela is seeking greater international investment following reforms to its hydrocarbon law, which allow private companies to participate in exploration and production. Speaking at ADIPEC in Abu Dhabi, Hydrocarbons Minister Paula Henao described the new framework as a major shift, highlighting investment guarantees and production contracts. She identified US sanctions as the main obstacle to large-scale investment and said Venezuela had signed 80 commercial agreements with international companies over the past year. LINK

Venezuela's Oil Exports Unchanged Amid Stagnant Output and High Freight Rates

Marianna Parraga and Mircely Guanipa at Reuters: Venezuela exported approximately 1.08 million barrels per day of crude oil and petroleum products in October, remaining nearly unchanged from September as stagnant production and high freight costs limited growth. Shipments to the United States fell 29% to 449,000 bpd, while exports to Europe increased to 235,000 bpd. Chevron's exports reached approximately 303,000 bpd, while rising naphtha imports reflected continued challenges in processing the country's heavy crude. LINK

Venezuela’s Oil Revival Threatened by Worker Shortage

Financial Times: Venezuela’s efforts to increase oil production face a shortage of skilled workers, including engineers, welders, electricians, and construction specialists. Years of economic crisis, low salaries, and migration have reduced the available workforce. Although companies such as NABEP, Chevron, BP, Repsol, and Eni are pursuing expansion plans, recruiting experienced personnel and bringing Venezuelan workers back from abroad remain major challenges. LINK

Rubio Meets Venezuelan Counterpart as US Presses for Progress on Election Preparations

Matthew Lee at AP: U.S. Secretary of State Marco Rubio met Venezuelan Foreign Minister Oliver Blanco in Washington to discuss Venezuela’s political transition and preparations for potential 2027 elections. The meeting followed discussions between government representatives and opposition groups on electoral reforms and conditions for a credible vote. Washington reiterated its interest in monitoring progress, as diplomatic engagement with acting President Delcy Rodríguez’s government continues alongside broader discussions on Venezuela’s economic recovery and energy sector. LINK

IMPSA Begins Rehabilitation Work at Macagua and Tocoma Hydropower Plants

Vene Economist: Argentine industrial company IMPSA has begun rehabilitation work at Venezuela’s Macagua and Tocoma hydroelectric plants in coordination with state-owned electricity company Corpoelec. The initial phase aims to restore 160 MW at Macagua within approximately 90 days, while the broader 24-month program targets the recovery of 672 MW, including 240 MW at Macagua and 432 MW at Tocoma. Although the contract value has not been disclosed, the project represents a significant effort to recover generation capacity at two important facilities within Venezuela’s national electricity system. LINK

GeoPark Takes Over Operations at Venezuela’s Bare Block and Assesses Up to 400 Wells for Reactivation

Contrapunto: Colombian oil company GeoPark confirmed its entry into Venezuela after completing a 25-year hydrocarbon production-sharing contract. The transaction marks an expansion of its operations in the country and comes alongside a change in its ownership structure: Colombian conglomerate Grupo Gilinski became GeoPark’s controlling shareholder, holding approximately 56.3% of the company. LINK

Venezuela Oil Producer to Expand Drilling Fleet to 41 Rigs in November

Reuters at Bilyonaryo Business: North American Blue Energy Partners (NABEP) plans to expand its drilling and well-servicing fleet in Venezuela to 41 rigs during November. The company reported production of 223,509 barrels of oil equivalent per day in October, nearly 12% higher than its approximately 200,000 barrels per day in August. The expansion includes drilling equipment operating in the Orinoco Belt and workover rigs intended to restore production at existing fields. LINK

Chevron Q3 Update Highlights $7B Venezuela Plan and Production Expansion

Allstream Insiders at Midstream Calendar: Chevron’s third-quarter update highlights its planned investment of more than $7 billion in Venezuela over five years. The investment framework follows agreements establishing improved fiscal, commercial, and legal terms for its Venezuelan joint ventures, as well as additional acreage in the Orinoco Belt. The company aims to more than double its Venezuelan production to approximately 600,000 barrels per day compared with 2026 levels. LINK

Eni Begins Operations at Venezuela’s Junín-5 Oil Field

Luis Molino at La Prensa de Monagas: Italian energy company Eni has begun operations at the Junín-5 heavy-oil field in Venezuela’s Orinoco Belt. The company plans to increase production from approximately 12,000 barrels per day to 200,000 barrels per day by 2028. The 25-year production-sharing agreement with PDVSA gives Eni exclusive operational responsibility for the field. The project will rely on existing infrastructure, rehabilitated wells, and new drilling activities. LINK

Voltage Fluctuations and Power Outages Reported Across Several Venezuelan States

El Diario: Residents reported significant voltage fluctuations across Caracas and several Venezuelan states on Sunday morning, including Miranda, Carabobo, Aragua, Falcón, Anzoátegui, and Barinas. In Guarenas, parts of the city reportedly lost electricity following the incident. Other users described sharp voltage drops followed by sudden increases, raising concerns about potential damage to electrical equipment and the reliability of the national grid. LINK

Venezuela Announces Subsidized Gasoline Distribution Schedule for November 2–8

El Diario: published Venezuela's weekly schedule for subsidized gasoline distribution from November 2 to 8, based on the final digit of vehicle license plates. The system assigns different days to specific plate numbers and maintains monthly subsidized fuel quotas of 120 liters for cars and 60 liters for motorcycles. Payments for subsidized gasoline continue to be processed electronically through BiopagoPDV and the Patria System. LINK

Venezuela's Oil Agreements with the United States: Expectations and Realities

Jordan Flores at El Diario: Venezuela's new oil agreements with the United States have raised expectations of increased investment and production, but their economic benefits have yet to reach households. The article examines the NABEP agreement, the participation of companies such as Chevron, Eni, and Repsol, and the management of oil revenues. Experts interviewed by El Diario point to limited transparency, unresolved contractual conditions, and slower-than-expected investment. The analysis also discusses how oil revenues are being directed toward infrastructure and electricity recovery. LINK

NABEP Says It Will Increase Its Venezuelan Drilling Fleet to 41 Rigs in November

Deisy Buitrago at GBM Media / The News: North American Blue Energy Partners (NABEP) announced plans to expand its operational drilling fleet in Venezuela to 41 rigs during November. The company reported production of 223,509 barrels of oil equivalent per day in October, compared with approximately 200,000 in August. Its expansion includes drilling and workover equipment deployed across the Orinoco Belt and western Venezuela, with additional rigs being transported from the United States, Brazil, and Colombia. LINK

ExxonMobil and Chevron Top Q3 Estimates as Americans Feel Gas Price Pain

The Guardian: ExxonMobil and Chevron reported third-quarter results above analyst expectations, benefiting from higher oil prices and strong production. Chevron reported earnings of $9.9 billion and included one month of Venezuelan production in its results. The company has also announced plans to invest $7 billion in Venezuela over five years, linking its international growth strategy to the country's oil-sector expansion. LINK

Eni Reactivates 'Supergiant' Venezuelan Oilfield

Jov Onsat at Rigzone: Eni has restarted operations at the Junín-5 heavy-oil field in Venezuela following the execution of a new 25-year agreement with PDVSA. The redevelopment plan includes restoring abandoned wells and drilling new ones, using existing infrastructure to accelerate production. The company aims to raise output from approximately 12,000 barrels per day to 200,000 barrels per day by 2028. Under the new contractual framework, Eni assumes responsibility for the field’s technical, financial, and commercial management. LINK

Trump Touted a Record Venezuela Oil Deal. Now Reality Is Setting In

Marianna Parraga, Mircely Guanipa, and Mariela Nava at Reuters: North American Blue Energy Partners (NABEP), the company granted access to 17 Venezuelan oilfields, aims to increase production from approximately 224,000 barrels per day to more than one million. However, Reuters reports that the expansion faces significant obstacles, including deteriorated infrastructure, contractor debts, shortages of drilling equipment, difficulties hiring skilled workers, and limited access to financing. NABEP says it has invested $1 billion and remains committed to its production targets. LINK

Chevron, Repsol, Eni, and NABEP: Investments and Production Targets on Different Timelines in Venezuela

Adriana Gómez at Núcleo Noticias: Venezuela’s oil expansion is being driven by investment plans from Chevron, Repsol, Eni and North American Blue Energy Partners (NABEP), each operating under different timelines. Chevron plans to invest more than $7 billion over five years and increase production to approximately 600,000 barrels per day by 2031. Repsol aims to increase its Venezuelan output by 50% within 12 months and triple it within three years. Eni has restarted Junín-5, while NABEP is expanding its drilling operations and production capacity. LINK

Venezuela to Offer State Assets to Private Sector, Rodríguez Says

Deisy Buitrago at Reuters: Venezuela’s government is reviewing nonessential state-owned assets that could be offered to private companies or returned to their former owners. The review covers sectors including energy, electricity, and mining. Rodríguez also said 44 energy contracts are under negotiation, while the government reports having signed 61 oil contracts. The specific assets to be transferred and the mechanisms for doing so have not yet been detailed. LINK

Venezuela Has Exported 136.7 Million Barrels of Crude to the US Since January

Globovisión’s economics section lists a report stating that Venezuela has exported 136.7 million barrels of crude oil to the United States since January. The report also indicates that shipments have remained above 500,000 barrels per day for 24 consecutive weeks. I could not verify the individual author or retrieve the specific article URL, so this item remains a lead requiring further confirmation. LINK

Venezuela to Begin Returning and Privatizing Nonessential State Assets

Kevin Mauricio Martínez at El País Colombia: The government is reportedly classifying public assets that could be transferred to private owners or returned to their former proprietors. The measure is presented as part of a strategy to encourage investment and provide greater legal certainty. The oil and gas industry is excluded from this specific review of nonessential state assets. LINK

Economic Dialogue Has Enabled 61 Hydrocarbon Contracts, Venezuela’s Government Says

El Universal: The Venezuelan government highlighted 61 hydrocarbon contracts it says have been signed with domestic and international investors, alongside another 44 agreements under negotiation. Officials also mentioned investment discussions involving gold, aluminum, and iron, as well as the assessment of nonessential public assets for possible transfer to private ownership. LINK

No Upfront Payment, No Work: GE Vernova Delays Venezuela Electricity System Repairs

Efecto Cocuyo editorial team: GE Vernova will not begin repairing Venezuela’s electricity network until it receives an initial payment from the government. The company has completed engineering work and prepared suppliers, but formal work orders have not yet been issued. The agreement covers thermal and hydroelectric generation, transmission, distribution, and substations. It targets the recovery of one gigawatt within the first 24 months, followed by an additional five gigawatts over the next four years. LINK

Eni Relaunches Production at Junín-5 in Venezuela

MarketScreener, reproducing an Eni press release: Eni announced the start of operations at Venezuela’s Junín-5 heavy-oil field less than two months after signing a Hydrocarbon Productive Participation Contract with the government. The development plan includes restoring abandoned wells and drilling new ones, with a target of reaching 200,000 barrels per day by 2028. Eni also reported progress on the Perla offshore gas field through a sustainability agreement intended to support production and domestic gas supplies. LINK

Energy Capital & Power editorial team: Venezuela and Brazil could deepen energy-sector cooperation through oil and gas development, gas-fired power generation, electricity infrastructure, and long-term supply agreements. The article estimates that Venezuela needs $5 billion to rehabilitate its electricity grid and says only around 40% of its installed generating capacity is operational. These are potential investment opportunities, not confirmation that specific projects have been contracted. LINK

First Venezuelan Oil from US–NABEP Deal Arrives in Texas, to Be Sold to Exxon, Citgo

Jarrett Renshaw at Reuters: The first shipment under the US–NABEP oil arrangement arrived in Texas, carrying one million barrels of Venezuelan crude for sale to Exxon Mobil and Citgo. The agreement gives Washington a 35% stake in NABEP’s parent company and access to crude from its Venezuelan operations. NABEP reported production of 223,509 barrels of oil equivalent per day as of October 19. LINK

Venezuela’s Revised Hydrocarbons Law Sets Investment Terms by Asset Type

TradeArabia News Service: Venezuela’s amended Organic Hydrocarbons Law offers investors different contractual options for heavy-oil reserves, mature fields, offshore gas, and refining infrastructure. The framework includes production-participation contracts, restructured joint ventures with PDVSA, and direct infrastructure or oilfield-services contracts. Revised fiscal terms are intended to improve project economics, although implementation and regulatory requirements remain important considerations. LINK

Nabors Signs Rig Contract to Return to Venezuela

World Oil editorial staff: Nabors Industries has signed a multiyear contract to deploy a drilling rig in Venezuela in early 2027, marking its return to the country’s drilling sector. The agreement signals renewed demand for specialized oilfield services as operators seek to expand production. The company has not disclosed the contract’s financial value or the specific field where the rig will operate. LINK

Swiss Engineering Firm Sulzer Signs Five-Year Agreement with PDVSA

Ariane Luthi at Folha de S.Paulo, C-Level: Swiss engineering company Sulzer announced a five-year agreement with Venezuela’s state oil company PDVSA to support industrial infrastructure development. Its technologies are already used in PDVSA operations spanning exploration and production, pipelines, refining, and fuel distribution. The agreement establishes a framework for potential future orders but does not disclose specific projects or contract values. LINK

Venezuelan Farmers Urge Recovery of One Million Hectares to Reduce Import Dependence

Yvette Zárraga at El Impulso: Celso Fantinel, a Fedecámaras treasurer and former Fedeagro president, called for the recovery of one million hectares of farmland to strengthen domestic production. He said Venezuela’s cultivated area had fallen from approximately 2.2 million hectares to 1.15 million. Fantinel argued that current import dependence costs the country billions of dollars and limits agricultural employment. He identified financing, input costs, and fair farm-gate prices as key constraints. LINK

Private Investors Propose Reviving Eight PDVSA Pipe and Valve Plants

Banca y Negocios: A consortium comprising U.S.-based Sunergon Oil Operating and Venezuelan industrial-services company Empreservinca has formally requested a 15-year concession to rehabilitate eight state-owned pipe and valve manufacturing plants that are currently shut down. The proposal includes modernizing and operating the facilities to supply Venezuela’s oil industry and state water utility Hidroven. The plan remains a proposal, not an approved concession. LINK

Lara’s Commercial Sector Spends Up to $1 Million on Backup Power Amid Electricity Failures

Petróleo y Negocios Editorial Team: Businesses and industrial companies in Lara state are investing in their own electricity generation to keep operations running amid recurring outages. The spending adds to operating costs and weakens their competitiveness against imported goods and businesses in regions with more reliable power. Industry representatives have requested a meeting with the national government to discuss the problem. LINK

Venezuelan and Trinidadian Energy Chambers Announce Bilateral Strategic Plan

Douglas Pino at El Impulso: Venezuela’s Petroleum Chamber and Trinidad and Tobago’s Energy Chamber announced a bilateral cooperation initiative intended to strengthen the hydrocarbons industry. The proposed framework includes technical workshops, knowledge exchange, and opportunities for businesses in both countries. The announcement emerged from an industry meeting in Caracas, although the agreement represents an expression of intent rather than evidence that specific projects or investments have already been secured. LINK

Ecoanalítica Forecasts Venezuelan Inflation Will Fall to Between 376% and 388%

Finanzas Digital: Economic consultancy Ecoanalítica projected that Venezuela’s year-on-year inflation could fall to between 376% and 388% in October, down from 466% through September. The figures are forecasts, not final inflation data. Even if inflation slows, the projected rate would remain extremely high, continuing to erode purchasing power and complicate pricing, budgeting, and investment decisions for businesses. LINK

United States Eases Investment Restrictions on Venezuela

El Estímulo: The United States removed Venezuela from a category of countries subject to certain foreign-investment restrictions under the COINS Act framework. The change may broaden investment opportunities, although the U.S. Treasury warned that restrictions could still be imposed on particular sectors. The development is relevant to investors assessing regulatory risk, but it should not be interpreted as the removal of all sanctions or legal barriers. LINK

Oil Investment and Improved Air Connectivity Create Opportunities for Venezuelan Tourism

Monitoreamos Editorial Team: Economist Asdrúbal Oliveros said international passenger traffic to Venezuela could grow by 32% in 2026 as airline connections recover and investment prospects improve. The report notes that the country had 178 international flights per week in October, compared with 157 in May. It cautions that tourism growth will also depend on better infrastructure, reliable services, and stronger competitiveness. LINK

Venezuelan Crude Seeks to Gain Ground Amid Middle East Supply Disruptions

Financial Times Editorial Team: Venezuela could benefit from buyers seeking alternative crude supplies amid disruptions affecting oil shipments through the Strait of Hormuz. The report says Venezuelan production has risen about 10% this year to roughly 1.2 million barrels per day. However, any gains depend on the country’s ability to sustain production growth and attract investment while competing with other suppliers in an increasingly uncertain energy market. LINK

Venezuela’s Family Food Basket Exceeds $755 as Economist Warns of Missing Reforms

NTN24 Newsroom: Venezuela’s family food basket reportedly exceeds $755, while the minimum combined wage and bonuses amount to approximately $240. Economist Guillermo Arcay Finlay warned that fundamental economic reforms remain unimplemented and that high inflation continues to erode purchasing power. The report highlights the gap between macroeconomic growth claims and household living standards, an important consideration when evaluating the social impact of reconstruction policies. LINK

Residents Protest Daily Power Cuts Lasting More than 12 Hours

Miguel Martínez at Punto de Corte: Residents of Central Tacarigua, in Carabobo state, protested prolonged electricity outages reportedly exceeding 12 hours per day. The demonstration reflects growing frustration with unreliable public services and follows similar protests elsewhere in the state. Persistent blackouts disrupt household activities and local businesses, while unreliable electricity remains a significant obstacle to industrial productivity and Venezuela’s broader economic recovery. LINK

Venezuela Receives New Oil Rigs After 15 Years

Folha de S.Paulo: Venezuela has received two drilling rigs and 11 pieces of equipment intended to restore oil wells after years of limited investment. The equipment is expected to support production recovery in fields operated under new agreements. The development could help revive activity in the country’s traditional oil regions, although the long-term impact will depend on successful operations, maintenance, and sustained investment.  LINK

Termozulia Failure Removes 150 MW From Venezuela’s Electricity Grid

Miguel Martínez at Punto de Corte: Unit 7 at the Termozulia power plant shut down after operating for only six days, removing 150 megawatts from the national electricity system. The failure threatens the government’s plan to add 1,300 MW by year-end. Technicians are inspecting the turbine after specialized parts were imported from Houston, but authorities have not provided a confirmed date for restoring the unit. LINK

Startup Venezuela Summit Attracts 25 Investment Funds and Multilateral Capital

Freddy Campos at Banca y Negocios: The Startup Venezuela Summit will bring together investment funds and international guests to explore opportunities in the country’s technology sector. Organizers highlighted potential in energy, healthcare, logistics, education, and financial technology. A fund backed by institutional and multilateral capital has reportedly received authorization to consider Venezuelan investments. The event may help connect startups with financing, although attendance does not guarantee that investments will materialize. LINK

Venezuelan Opposition Presents a National Agreement and Reaffirms María Corina Machado’s Leadership

Infobae: Venezuela’s opposition coalition presented a national agreement containing 14 proposals for democratic transition, including free elections, the release of political prisoners, and the return of exiles. The document reaffirms María Corina Machado’s leadership but does not specify an election date. Political stability and credible institutions are relevant to long-term reconstruction because they influence investor confidence, governance, and the implementation of economic reforms. LINK

Corpoelec Struggles to Bring Planta Centro’s Unit 6 Online

Nataly Angulo at El Pitazo: Venezuela’s state electricity company, Corpoelec, is facing difficulties bringing Unit 6 at Planta Centro online. The unit was expected to contribute 600 megawatts to the national grid, helping reduce electricity rationing. Engineer José Aguilar reported that repairs involving turbine supports have delayed the project. The setback raises questions about the government’s target of adding 1,300 megawatts by the end of 2026. LINK

The Secret Terms of Trump’s Venezuelan Oil Deal

Cate Brown, Aaron C. Davis, and Sebastian Rotella at ProPublica: ProPublica examines the terms of a U.S.–Venezuelan oil agreement that gives the Trump administration a 35% stake in North American Blue Energy Partners (NABEP), a company led by Venezuelan businessman Alejandro Betancourt. The deal grants Washington discounted oil and purchasing priority, while offering limited binding guarantees of benefits for Venezuela. Its governance structure, opaque investors, and legal protections raise questions about transparency, sovereignty, and long-term economic gains. LINK

Venezuela to Attract Investors After Elections, Branson Says

Reuters Staff: British entrepreneur Richard Branson said Venezuela could attract more foreign investment once elections are held and the rule of law is strengthened. Investors remain cautious because of legal uncertainty, concerns about judicial independence, and limited transparency. Branson highlighted the next 18 months as an important period for the country’s prospects, particularly in sectors such as oil and gas, while emphasizing that investment depends on reliable legal protections. LINK

Venezuela establishes strategic alliances with four international companies to restore the National Electric System

Banca y Negocios: reported that power rationing has increased sharply across Venezuela, with daily blackouts now reaching six to eight hours in numerous states and more than 10 hours in some rural areas. The deterioration comes as electricity demand reached 16,030 MW—the highest level reported in nine years—while Corpoelec’s generation deficit may now exceed 3,000 MW. Guri recently lost additional capacity. Unit 17 at the Simón Bolívar Hydroelectric Plant went offline on August 29. 770 MW. LINK

Oil executive worried over lack of essential element for Venezuela expansion: Power

Deisy Buitrago and Vivian Sequera at Reuters: Venezuela’s unreliable electricity supply is threatening plans to expand its oil and gas industry. The country faces an electricity deficit exceeding 1,500 megawatts, while only 40% of its installed generation capacity is available. Executives warn that energy projects cannot advance without improvements to the power grid. CAF estimates that rehabilitating and automating the electricity system will require $5 billion. Although the government targets restoring 4,800 MW by year-end, experts question whether this goal is achievable. LINK

US’s Chevron, Italy’s Eni to expand oil projects in Venezuela

Al Jazeera Staff, AFP, and Reuters: Chevron and Italy’s Eni have signed agreements to expand their Venezuelan oil operations, while GE Vernova will help repair the country’s electricity grid. Chevron plans to invest $7 billion to develop two additional fields in the Orinoco Belt, aiming to more than double output within five years. Eni secured exclusive exploration rights for the Junín 5 oilfield. The agreements form part of broader efforts to attract foreign investment, increase oil production, and rehabilitate Venezuela’s energy infrastructure. LINK

Fedecámaras calls for tax and Public Service reforms to support recovery after earthquakes

Kemberlyn Talero at El Pitazo: Fedecámaras urged Venezuela’s government to review taxes and improve public services to support economic recovery following recent earthquakes. The business association identified high tax burdens, operating costs, and unreliable electricity as major obstacles to private-sector competitiveness. It is also developing employment initiatives for displaced workers and partnerships with CAF and industry chambers to support infrastructure reconstruction. Although many productive facilities remain operational, the organization emphasizes that economic recovery requires better business conditions, reliable energy, and coordinated investment. LINK

Venezuela’s Electricity Reform: What could change under the New Law

El interés editorial team at El Estímulo: Venezuela’s proposed electricity law would open generation, transmission, distribution, and commercialization to private companies through concessions lasting up to 40 years. The reform also proposes compensation for consumers affected by power outages, requires large industries and shopping centers to develop independent electricity supplies, and offers potential tax incentives for strategic investments and renewable energy. The legislation aims to modernize the sector and attract capital, although it must complete public consultation and further legislative approval before implementation. LINK

Venezuela opens debate on an oil sector overhaul as Trump seeks role for US Firms

Regina Garcia Cano at AP: Venezuela’s National Assembly advanced legislation to reform the oil sector, opening greater opportunities for private and foreign investment. The proposal would allow companies to independently operate oil fields, sell crude, and resolve disputes through international arbitration. It also includes potential reductions in royalties and extraction taxes to attract investment. The reform seeks to increase production and revive the economy, but investors remain concerned about political uncertainty, past expropriations, and unresolved U.S. sanctions. LINK

Public service failures affected 91% of businesses, Fedecámaras reports

Juan Carlos Salas at Crónica Uno: Failures in public services, particularly electricity outages, affected 91% of Venezuelan businesses, according to Fedecámaras’ second-quarter 2026 survey. The report highlights how unreliable infrastructure limits private-sector productivity alongside currency exchange disparities and restricted access to financing. Some industries recorded modest growth, including construction and manufacturing, but 70% of surveyed business associations reported that their companies operated below capacity. These findings underscore the need for reliable electricity and infrastructure investment to support Venezuela’s economic recovery. LINK

ABOUT THE GLOBAL MEDIA SCAN:

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