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Machado Proposes Oil Law to Boost Venezuela's Production

3/25/2026

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Summary

Story summary

Maria Corina Machado, a Venezuelan opposition leader, spoke on March 12, 2026, and said a new oil law could boost Venezuela's production from 1 million to 5 million barrels per day with $150 billion in investment.
She advocates shrinking the state-run oil company PDVSA and transferring operations to the private sector.
She insists Citgo Petroleum remain a Venezuelan asset, warning losing it would harm Venezuela and U.S. energy security.

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Story summary

Maria Corina Machado, a Venezuelan opposition leader, spoke on March 12, 2026, and said a new oil law could boost Venezuela's production from 1 million to 5 million barrels per day with $150 billion in investment.
She advocates shrinking the state-run oil company PDVSA and transferring operations to the private sector.
She insists Citgo Petroleum remain a Venezuelan asset, warning losing it would harm Venezuela and U.S. energy security.