Venezuela’s interim president, Delcy Rodríguez, on Monday forecast that reforms to the country’s oil sector could attract about $1.4 billion in new investment in 2026, marking a significant increase from an estimated $900 million in oil sector funding in 2025.
Rodríguez, who assumed the interim presidency following the capture of former President Nicolás Maduro by U.S. forces in early January, made the projection while addressing a business audience during public consultations on reforms aimed at liberalising the hydrocarbons industry.
She said the anticipated 55 per cent uptick in investment reflects measures to open Venezuela’s oil industry to greater private and foreign participation under a revised hydrocarbons law currently before the National Assembly.
“Last year, investment came to nearly $900 million, and for this year, $1.4 billion in investments have been signed,” Rodríguez said, reiterating the government’s goal of transforming Venezuela — which holds some of the world’s largest proven reserves — into a major producer once again.
The proposed hydrocarbons reform — approved in a first reading by lawmakers and expected to undergo further debate before final passage — would ease longstanding restrictions that historically required companies to operate in joint ventures with state-run oil firm PDVSA.
Supporters argue the changes are crucial to revitalising output and boosting foreign capital inflows after years of decline driven by mismanagement, corruption and U.S. sanctions, though critics have raised concerns over the reform’s legal clarity and process.
The initiative also occurs amid tense diplomatic dynamics: U.S. intelligence officials have expressed doubts about Rodríguez’s full alignment with Washington’s broader objectives even as the administration considers steps including a potential embassy reopening in Caracas.
