Story perspectives

Venezuela's Oil Industry Struggles Amid Political Instability

4/2/2026

Summary

Story summary

Venezuela's oil industry faces ongoing challenges despite the capture of Nicolás Maduro.
ExxonMobil views the country as "uninvestable" due to political instability.
Interim president Delcy Rodríguez has pushed reforms to attract investment that allow minimal state involvement in oil production.
The opposition led by María Corina Machado holds majority support.
Obstacles remain for reviving the sector, including a need for skilled labor and infrastructure investment.

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Story summary

Venezuela's oil industry faces ongoing challenges despite the capture of Nicolás Maduro.
ExxonMobil views the country as "uninvestable" due to political instability.
Interim president Delcy Rodríguez has pushed reforms to attract investment that allow minimal state involvement in oil production.
The opposition led by María Corina Machado holds majority support.
Obstacles remain for reviving the sector, including a need for skilled labor and infrastructure investment.