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Venezuela oil production hits highest level since 2019
Venezuela's oil production has reached 1.23 million barrels per day, the highest level since February 2019, according to acting president Delcy Rodríguez. The government reports having signed 50 strategic agreements for new investments across more than 76 hydrocarbon production areas.
Financial reports indicate that PDVSA accumulated an estimated 15.9 billion dollars in billing between January and July 2026, an 89% increase compared to the same period in 2025. This growth is attributed to higher export volumes and improved prices. However, following the capture of Nicolás Maduro in January, the U.S. Department of the Treasury has placed PDVSA's export revenues and royalties under its custody.
Energy experts have raised concerns regarding increased opacity in the sector. A recent reform to the Organic Hydrocarbons Law has shifted contract negotiations from the National Assembly to private dealings between the Ministry of Hydrocarbons, PDVSA, and private companies, reducing public scrutiny. Additionally, while the government has released 1,046 political prisoners since January, economists note that the nation's external debt remains estimated between 170 billion and 180 billion dollars.
Entities
BP · Chevron · Delcy Rodríguez · PDVSA · Pacific Coast Energy Company · Petrodelta · Petróleos de Venezuela · United States Department of the Treasury · Venezuela
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] Revenue from PDVSA exports is held in custody by the U.S. Department of the Treasury following the capture of Nicolás Maduro. contrapunto.com · nuevodia.com.ve · lapatilla.com
- [○ 1 SOURCE] Venezuela's external debt is estimated to be between 170 billion and 180 billion dollars. www.informe21.com
- [● 3 SOURCES] The government has signed 50 agreements for new investments in more than 76 hydrocarbon production areas. www.el-carabobeno.com · eldiario.com · ultimasnoticias.com.ve
- [DISPUTED] Venezuela's oil production reached 1.23 million barrels per day, the highest level since February 2019. www.el-carabobeno.com · eldiario.com · ultimasnoticias.com.ve
- [○ 1 SOURCE] Chevron increased production from its joint ventures with PDVSA to approximately 280,000 barrels per day during the first half of 2026. talcualdigital.com
- [● 3 SOURCES] PDVSA accumulated an estimated 15.9 billion dollars in billing between January and July 2026. contrapunto.com · nuevodia.com.ve · lapatilla.com
- [● 2 SOURCES] 1,046 Venezuelans have been released from prison since January 2026. lopezdoriga.com · eluniverso.com
- [● 2 SOURCES] The January hydrocarbon law reform has reduced public oversight of oil contracts, allowing private negotiations to bypass the National Assembly. www.entornointeligente.com · talcualdigital.com