# Venezuela energy sector reactivation and investment trends

> Live situation record from CLSTR: https://clstr.news/situations/venezuelan-oil-industry-reactivation-and-asset-claims
> Updated: 2026-09-30T17:30:37.000Z. Sources: 17. Developments: 3.

The Venezuelan energy sector is experiencing a surge in activity as international interest intensifies following legal reforms and political shifts. At the International Oil and Gas Summit (VIOGS 2026) in Caracas, executives from global firms including Repsol, Siemens AG, and UCC Oil and Gas Holding expressed readiness to expand operations.

A significant geopolitical shift has occurred following the arrest of Nicolás Maduro. Under an interim government led by Delcy Rodríguez, the Venezuelan market has opened to private capital. In the United States, President Donald Trump announced plans to utilize Venezuelan petroleum to replenish U.S. strategic crude reserves, citing a major oil agreement expected to last 25 years.

Interest in non-oil resources continues to expand. In the Zulia region, Glencore Plc and Peabody Energy Corp. are evaluating joint proposals for coal assets, while Heeney Capital and Drummond Co. pursue separate coal-related interests. Additionally, Heeney Capital has secured a 30-year agreement to operate and export gold from the Chocó mine in Bolívar state.

Regional integration remains a priority. Colombia’s state-owned Ecopetrol is actively seeking business opportunities to bolster its hydrocarbon business, while Naturgas president Luz Stella Murgas has advocated for the resumption of cross-border gas flows between Colombia and Venezuela to stabilize regional supply.

## Claims

- Ecopetrol is participating in an international congress in Caracas to identify business opportunities in Venezuela. (corroborated by 3 sources)
- Glencore Plc and Peabody Energy Corp. are evaluating joint proposals for coal assets in Zulia, Venezuela. (single source)
- Heeney Capital and Drummond Co. are developing a separate proposal for coal assets in the Zulia region. (single source)
- International oil companies, including Repsol, Siemens AG, and UCC Oil and Gas Holding, are seeking to expand operations in Venezuela. (single source)
- Naturgas president Luz Stella Murgas called for the resumption of cross-border gas flows between Colombia and Venezuela. (single source)
- Donald Trump stated that the United States intends to fill its strategic crude oil reserves with petroleum from Venezuela. (single source)
- The oil agreement between the United States and Venezuela is expected to span 25 years. (single source)
- Heeney Capital has obtained rights to operate and export gold from the Chocó mine in Bolívar state for 30 years. (single source)
- GeoPark Ltd. is in negotiations with Pdvsa to secure a supply of light hydrocarbons for diluting heavy crude oil. (single source)

## Timeline

### 2026-09-30: Venezuela energy sector sees surge in international investment interest

International energy firms and the U.S. are increasing engagement with Venezuela's oil, coal, and gold sectors following legal reforms and new strategic agreements.

11 sources. https://clstr.news/cluster/international-energy-firms-eye-venezuelan-coal-and-oil-assets

### 2026-09-24: Venezuelan businesses seek recovery of expropriated oil assets

Venezuelan businesses are seeking to recover assets expropriated in 2009 as a revitalized oil sector attracts international suppliers and new investment opportunities in Zulia.

4 sources. https://clstr.news/cluster/venezuelan-businesses-seek-recovery-of-expropriated-oil-assets

### 2026-09-21: ExxonMobil nears return to Venezuela oil fields

ExxonMobil is in talks to return to Venezuela, potentially investing in oil fields within the Orinoco Belt after being forced out by nationalization in 2007.

2 sources. https://clstr.news/cluster/exxonmobil-nears-return-to-venezuela-oil-fields

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Cite as: Venezuela energy sector reactivation and investment trends. CLSTR, https://clstr.news/situations/venezuelan-oil-industry-reactivation-and-asset-claims