The acting president of Venezuela, Delcy Rodríguez, announced that new oil companies will begin operations in the country “in the coming weeks”, amid the process of economic opening and easing of sanctions driven by the rapprochement between Caracas and Washington.
The announcement was made during an event with workers from the Orinoco Oil Belt, one of the largest crude reserves in the world. There, Rodríguez assured that Venezuela is undergoing an accelerated process of attracting national and foreign investments and stated that “more and more companies” will soon arrive in the Venezuelan energy sector.
Oil pumps in the Orinoco Oil Belt
Although the government did not officially confirm which companies will arrive or what the new projects will be, the announcement comes as several energy multinationals negotiate agreements to expand operations in Venezuela. Among them are American and European companies interested in exploiting oil and gas in partnership with PDVSA.
Rodríguez also urged the United States and Europe “not to be afraid of a Venezuela free of sanctions,” referring to the gradual easing of economic restrictions that Washington began to implement after Nicolás Maduro's fall and the start of the new Venezuelan political process.
One of the most relevant cases is that of Chevron, which has already established itself as one of the largest private oil producers in Venezuela and significantly expanded its presence in the Orinoco Belt. Additionally, international media reported that ExxonMobil is also negotiating new extraction rights in Venezuelan territory.
The headquarters of Chevron Corporation
The Venezuelan regime bets that the oil recovery will reactivate an economy devastated after years of crisis, sanctions, corruption, and production decline. Delcy Rodríguez even recently expressed her intention to once again make Venezuela a “giant producer” comparable to the United States, Russia, and Saudi Arabia.
In recent months, Caracas approved reforms to the Hydrocarbons Law and signed agreements with companies like ENI and Repsol to expand production and attract foreign capital.
However, opposition organizations and critical sectors warn that doubts about institutional transparency, legal security, and political democratization within the country still persist. Even so, the global need for oil and the strategic importance of Venezuelan reserves are accelerating the return of major international energy players to the Venezuelan market.
