LATIN AMERICA ADVISOR

Energy ADVISOR

A daily publication Of the dialogue

January 16, 2026

Can Venezuela’s Oil Sector Be Rebuilt After Maduro?

U.S. President Donald Trump has said he wants U.S. oil companies to play a major role in Venezuela’s oil sector following the ouster of President Nicolás Maduro. Lake Maracaibo is pictured. // File Photo: Breddyjgalvis via Wikimedia Commons CC BY-SA 3.0.

Q

A

Francisco J. Monaldi, director of the Latin America Energy Program at Rice University’s Baker Institute for Public Policy: “In terms of private investors, Chevron is poised to have the most impact in Venezuela. The U.S. oil major was already investing, having the only oil drilling rigs operating in the country. It will likely add two more rigs in short order and increase its investment pace with an expanded OFAC license. Repsol is also likely to increase production as soon as they get an expanded license; Maurel & Prom might add a more limited number of barrels. Those are the only Western companies that are operating and have contracts in place and the capacity to move fast. All together, they could add some 300,000 to 400,000 barrels per day in one to two years. Others like Eni could follow…”

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ABOUT THE Energy ADVISOR

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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Staff

Gene Kuleta
Editor
202.463.2920
gkuleta@thedialogue.org

Jack Quinn
Reporter

jquinn@thedialogue.org

Lori Rampani
Reporter

lrampani@thedialogue.org

board of advisors

Nigel Blackaby
Global Head, International Arbitration Group,
Freshfields Bruckhaus Deringer

Jimena Blanco
Chief Analyst,
Verisk Maplecroft

María José Cortés
Head of ESG,
Atlas Renewable Energy

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 &
Financial Services,
Willkie Farr & Gallagher

Craig A. Kelly
Senior Director,
Int’l Government Relations,
Exxon Mobil

Jeremy Martin
Director,
Energy Program,
Institute of the Americas

Larry Pascal
Chairman, Americas
Practice Group,
Haynes & Boone

R. Kirk Sherr
President,
Clearview Strategy Group

Daniela Stevens
Director,
Energy Transition and Climate Program,
Inter-American Dialogue

Doris Rodríguez
Partner,
Hunton Andrews Kurth

Alexandra Valderrama
Director,
International Government
Affairs, Chevron

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