Venezuela oil sector draws foreign investors as sanctions ease

At a London energy conference attended by around 200 industry participants, Apertura Energy chief executive Greig Gilbert told the audience “the time is now” for investing in Venezuela’s oil. The push follows reforms by acting President Delcy Rodríguez that let private firms hold larger stakes and operate fields directly, and comes after the United States eased sanctions on Venezuelan crude.

Investors acknowledge major risks, including decaying infrastructure, political uncertainty and a June earthquake, but are encouraged by a surge in exports – 28 million barrels last month, up 69 % year‑on‑year, with more than half destined for the United States. A larger Venezuela Energy Week is scheduled for October in Caracas.