PDVSA

Foreign oil companies and investors are entering Venezuela seven months after the US removed then-President Nicolás Maduro, as new regulations allow private firms to operate oil fields directly. However, skepticism remains due to past expropriations and long timelines for new projects.

The U.S. Department of Energy faces criticism for delays in finalizing oil deals with American companies in Venezuela, despite President Trump's January promise to rapidly rebuild the country's oil industry. No new petroleum agreements have been completed eight months later, with industry insiders and officials citing internal divisions within the administration and the oil sector as obstacles.

Venezuela is exporting over 1.2 million barrels per day of crude and fuel, up from 847,000 bpd in 2025. PDVSA is shifting its business model from trading houses to direct contracts with refiners and joint-venture partners. Vitol and Trafigura previously handled more than 100,000 bpd of Venezuelan crude.

SLB, a $70 billion oil services company founded by the Schlumberger brothers in 1926, is positioned to benefit from oil exploration recovery in the Middle East and Venezuela. The company partners with entities like Saudi Aramco and ADNOC, and its longevity in volatile markets positions it to profit from post-Strait of Hormuz energy sector growth.

Brazil's Batista brothers, through their firm Fluxus, acquired a 49% stake in a PDVSA oil joint venture in Venezuela. This move is part of expanding their investment as US sanctions against Venezuela ease.

Venezuela is attempting to rebuild investor trust through a debt overhaul. The country's debt has been a major issue, and the overhaul is seen as a step towards resolving it. This move may have significant implications for Venezuela's economy.