Venezuela Forecasts $1.4 bn Oil Investments in 2026, Up 55%

Venezuela’s interim president Delcy Rodriguez on Monday forecast a $1.4 billion bonanza from planned reforms to the oil sector aimed at drawing in foreign investors following the ouster of Nicolas Maduro.

Rodriguez projected oil investments would rise 55 percent over 2025 after a bill ending decades of tight state control on the energy sector is adopted by parliament.

“Last year, investment came to nearly $900 million and for this year, $1.4 billion in investments have been signed,” claimed Rodriguez, who succeeded Maduro after his January 3 overthrow by US special forces.

“We must go from the country with the planet’s biggest (proven) reserves of oil to a giant in production terms,” Rodriguez argued. (AFP)