🖊🗞COLUMN | From the Insolent Foreign Boot to the Carmona Decree, 1902-2002
Venezuela’s oil policy has been closely linked to disputes over national sovereignty and foreign influence throughout the 20th century. The 1902 naval blockade marked the beginning of sustained external pressure, followed by the 1908 coup and the expansion of foreign oil concessions in the 1920s.
Reforms such as the 1943 Hydrocarbons Law increased the state’s share of oil revenues, and the 1976 creation of PDVSA formalized state control over the sector. In the 1990s, neoliberal policies reduced royalties and expanded foreign participation. The 2002 coup attempt came after efforts to reassert state control over oil resources.
In the latest Insurgent History column, Rosanna Álvarez, Venezuelan historian and iconographic researcher, documents the role of Venezuela’s elite in these developments, particularly through the oil industry.
Read the full piece from Álvarez here 👉https://venezuelanalysis.com/columns/from-the-insolent-foreign-boot-to-the-carmona-decree-1902-2002/
#InsurgentHistory#PDVSA#Sovereignty
🖊OPINION | The Venezuelan Organic Law on Hydrocarbons
Venezuelan lawyer, writer, and public intellectual Luis Britto García reviews Caracas’ recent oil reform, arguing that it conflicts with Article 151 of the Constitution by permitting alternative dispute resolution, including independent arbitration, in matters of public interest.
He also states that the reform authorizes discretionary reductions in royalties and taxes, potentially decreasing the national fiscal share from 65% to 25%.
Read the full opinion piece here 👉🏽https://venezuelanalysis.com/opinion/the-venezuelan-organic-law-on-hydrocarbons/
#PDVSA#Sovereignty#USVenezuelaRelations
🖊OPINION | Venezuela’s Oil Reform: Governance, Sovereignty, and Recovery
Venezuela’s recent Hydrocarbon Law reform has sparked fierce debates about its short- and long-term implications.
In this essay, Blas Regnault, an energy policy analyst and researcher, offers an in-depth analysis of the new legislative framework, from the significant changes to the state’s governance over its natural resources to his perspective on a sovereign recovery of the oil industry.
Read the full opinion piece here 👉🏽https://venezuelanalysis.com/opinion/venezuelas-oil-reform-governance-sovereignty-and-recovery/
#PDVSA#Sanctions#Sovereignty#USVenezuelaRelations
🎙🔊 Episode 44 of the VA Podcast is live!
Venezuela’s January 2026 hydrocarbons law reform marks a major shift in the country’s oil sector. It establishes a more flexible fiscal regime in the name of “international competitiveness,” while expanding the private sector role in extraction, operations, and dispute resolution mechanisms.
The reform follows years of US sanctions on Venezuela’s oil industry and coincides with new US licenses allowing Western conglomerates to move into Venezuela’s energy sector.
Join Blas Regnault, energy policy analyst and consultant focused on oil geopolitics, alongside Venezuelanalysis editors Ricardo Vaz and Lucas Koerner, as they break down the reform, its economic and political context, and what it means for control over strategic resources and national sovereignty.
Watch the full episode here 👉https://www.youtube.com/watch?v=QVNJ-8AjTBc
#2026OilReform#PDVSA#Podcast#Sovereignty
📰 NEWS | Venezuelan Oil Production Recedes as PDVSA Finds New Partners
🇻🇪 Venezuela’s oil sector is under pressure from renewed US sanctions. OPEC reported May output at 896,000 bpd, down for the second month in a row, while PDVSA claimed 1.06 million bpd.
With Chevron scaling back operations, PDVSA signed deals with nine foreign firms to manage drilling and sales in Zulia and the Orinoco Belt. Meanwhile, crude exports to China rose to 584,000 bpd, despite discounts and reliance on intermediaries to bypass sanctions.
🔗 Read the full report here: https://shorturl.at/q3iGM
#PDVSA#sanctions
📰NEWS | Venezuela: Oil Output Contracts as Foreign Partners Lobby for License Extensions
OPEC reported Venezuela’s April oil production at 888,000 bpd (a 34,000 bpd drop from March) while exports fell 20%, largely due to canceled Chevron cargoes. The U.S. oil giant, alongside other firms, faces a May 27 deadline to exit Venezuela unless license extensions are granted.
Chevron has urged Washington to modify its sanctions waiver, warning that a withdrawal could strengthen China’s role in the country’s energy sector. Venezuela has begun rerouting shipments to China and reiterated its call for foreign investment.
🔗 Read the full article here: https://shorturl.at/BTdhJ
#PDVSA#Sanctions
📊 INFOGRAPHICS | US Sanctions Against the Venezuelan Oil Industry
In recent years, successive US administrations have levied wave after wave of unilateral sanctions against Venezuela’s oil industry. The goal is clear: to strangle the country’s most important economic sector.
The latests VA's infographic details the successive measures, the impact on output, and the revenue losses over time.
🔎 Follow this link to view the full infographic: https://shorturl.at/Br67t
#PDVSA#Sanctions
📰 NEWS | US Pushes Repsol, Eni and Maurel & Prom Out of Venezuela to Increase Economic Pressure
The US has ordered Repsol, Eni, and Maurel & Prom to exit Venezuela’s oil sector by May 27, intensifying economic pressure. The companies hold minority stakes in joint ventures with PDVSA, accounting for 83,000 bpd.
Repsol and Eni, co-owners of the Cardón IV natural gas project, are exploring ways to continue operations. The offshore venture produces 600 million cubic feet per day, supplying power plants and cooking gas networks.
The move follows Washington’s decision to withdraw Chevron’s license, reinforcing its sanctions strategy against Venezuela’s energy industry.
🔗 Read the report here 👉🏼https://venezuelanalysis.com/news/us-pushes-repsol-eni-and-maurel-prom-out-of-venezuela-to-increase-economic-pressure
#PDVSA#Sanctions
📰 NEWS | Venezuelan Government Appeals for Foreign Investment Ahead of Oil Sanctions Deadline
The Venezuelan government is appealing for foreign investment in its oil sector as Chevron prepares to exit by April 3 under US sanctions. President Maduro reaffirmed that Venezuela is open to international partnerships in oil, gas, petrochemicals, and refining.
Chevron’s departure could impact the country’s oil output, with its joint ventures currently producing over 200,000 bpd. However, analysts suggest the firm may still secure an extension or a new license.
🔗 Read the full report here: https://venezuelanalysis.com/news/venezuelan-government-appeals-for-foreign-investment-ahead-of-oil-sanctions-deadline/
#PDVSA#Sanctions
🆕 NEWS | Venezuelan Oil Output Recedes as India ‘Expects’ More Imports
Venezuela’s oil production saw a slight decline in February, with OPEC estimating 892,000 bpd—down 18,000 bpd from January—while PDVSA reported an increase to 1.03 million bpd.
Despite US sanctions hampering trade, Indian Oil Minister Hardeep Singh Puri stated that “all the signals” suggest an easing of constraints on Venezuelan crude exports. Reliance Industries remains the only Indian firm authorized for imports under current restrictions.
🔗 Read the full report here: https://shorturl.at/ITuDb
#PDVSA#Sanctions
Venezuela's oil production has continued to grow, with the latest figures from October showing 895,000 bpd, a 7,000 bpd increase from September. Oil exports also surged to 947,387 bpd, the highest in four years, leading to a 12.5% rise in revenue to $11.3 billion. Despite US sanctions, the country's oil sector shows signs of growth.
Tap here to read the full report 👉🏼https://shorturl.at/r1n6Y
#PDVSA#Sanctions
Venezuela’s oil industry continued to face challenges in September.
OPEC data shows a slight increase in production, reaching 877,000 barrels per day, but the price of the Merey blend, Venezuela’s main export to Asia, has fallen by 27% since April, dropping to $54.91 per barrel. The industry remains under pressure due to sanctions and price concerns.
Read the full report here 👉🏼https://shorturl.at/FC87h
#PDVSA#sanctions