economy
May 2, 2026
PDVSA seeks partners after production rebound and opening to private sector, but doubts about Venezuela's future persist
With the tutelage of the United States, the easing of sanctions, and the signing of new agreements with major international oil companies, Petróleos de Venezuela (Pdvsa) has managed to increase its daily production; however, the persistent lack of confidence in the South American country continues to weigh on investors. By El Tiempo During his intervention at the beginning of the [...]
TL;DR
- Pdvsa has increased daily oil production to 1.2 million barrels per day by the end of 2025.
- The target for the end of 2026 is to reach a production of 1.37 to 1.4 million barrels per day.
- This production increase of 15.3% in 13 months is the fastest growth in a decade.
- Changes in the Hydrocarbons Law now allow for greater private sector participation.
- Despite operational recovery, investor confidence is hampered by concerns over legal security and ideological priorities over operational ones.