Francisco J. Monaldi, director of the Latin America Energy Program at Rice University’s Baker Institute for Public Policy: “By the end of 2021, Venezuela’s production recovered from the lows of mid-2020, doubling to 750,000 barrels per day. Such an increase was based on reopening existing potential; no new wells were drilled. The price boom and Iran helped. In 2022, production stagnated as investment continued to lag, while the competition of sanctioned Russian oil in the Chinese market forced steep discounts and unsold crude piled up. A flexibilization of sanctions and regulatory changes are needed to allow foreign companies operational, and cash flow, control. So far, negotiations with Chevron appear to be quite advanced and waiting for a U.S. license. Others may follow. If all goes well…”
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A sister publication of the Inter-American Dialogue’s daily Latin America Advisor, the weekly Energy Advisor captures fresh analysis from business leaders and government officials on the most important developments in oil and gas, biofuels, the power sector, renewables, new technologies, and the policy debates shaping the future of energy in the Western Hemisphere and beyond. To subscribe or for more information, contact Gene Kuleta, editor of the Advisor, at gkuleta@thedialogue.org.












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Global Head, International Arbitration Group,
Freshfields Bruckhaus Deringer
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Chief Analyst,
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Jeffrey Davidow
Senior Counselor,
The Cohen Group
Analia Gonzalez
Leader, Arbitration & Litigation,
Laitn America, BakerHostetler
Jonathan C. Hamilton
Partner,
White & Case
Raul Herrera
Partner, Corporate &
Securities Practice,
Arnold & Porter
James R. Jones
Chairman,
Monarch Global Strategies
Jorge Kamine
Partner, Corporate &
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Craig A. Kelly
Senior Director,
Int’l Government Relations,
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Jeremy Martin
Director,
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Larry Pascal
Chairman, Americas
Practice Group,
Haynes & Boone
R. Kirk Sherr
President,
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Daniela Stevens
Director,
Energy Transition and Climate Program,
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Doris Rodríguez
Partner,
Hunton Andrews Kurth
Alexandra Valderrama
Director,
International Government
Affairs, Chevron
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