Acting President of Venezuela Delcy Rodríguez announced plans to invest $1.4 billion in the country's oil and gas sector in 2026. This is a significant increase compared to nearly $900 million invested in 2025. The strategic goal is to turn Venezuela — which possesses the world’s largest oil reserves — into one of the leading global producers of hydrocarbons. Rodríguez stated that Venezuela should become an oil giant on par with Russia, the United States, and Saudi Arabia, stressing that having enormous reserves should finally bring real development to the country.
Rodríguez presented these investments as a historical necessity to ensure the future and socio-economic well-being of the Venezuelan people. She noted that, despite more than a decade of international sanctions, the state oil sector has remained operational. The acting president expressed gratitude to oil industry workers for their efforts under these difficult conditions, saying their work deserves recognition.
Full version: Delcy Rodríguez estima 1.400 millones de dólares de inversión petrolera en 2026