The VIOGS 2026 International Oil and Gas Conference has begun in Caracas, bringing together around 650 participants, including energy company executives, government officials, and members of the diplomatic corps. Major international players named among the participants include Chevron, ExxonMobil, BP, TotalEnergies, and Repsol. According to journalist and political analyst Saverio Vivas, their participation indicates growing confidence in Venezuela’s energy sector and could pave the way for large-scale private investment. Tickets for the event, priced at $2,950, sold out completely.
Vivas said that oil production in the country had stabilized at 1.2 million barrels per day—nearly 30% higher than at the beginning of the year—and could eventually reach 1.4 million barrels, thanks to the world’s largest crude oil reserves. Working sessions are also addressing the restoration of gas-fired power generation and the export of surplus electricity and gas to Colombia, Brazil, and Caribbean countries. Particular attention is being paid to reforms that would allow private companies to manage production and exports directly, increasing the sector’s efficiency and transparency while improving the supply of electricity and household gas to the population.
Full version: Oil and Gas Summit: A meeting bringing together business leaders amid Venezuela’s oil boom