Thanks to its worker’s efforts, Venezuela is carrying out its plan for absolute production independence, VP Rodriguez said.
On Monday, Venezuelan Vice President and Oil Minister Delcy Rodríguez confirmed that her country’s oil production is operating normally and is complying with the plan to increase national output.
The state-owned oil and natural gas company (PDVSA) is keeping its wells in production while international companies are operating at full capacity, she reported.
“Those transnational companies whose licenses were revoked by the US government at the request of the failed Venezuelan far right are welcome to continue participating in production under a win–win scheme in the contracts signed with the national industry, in accordance with the Venezuelan legal framework,” Rodríguez said in a statement.
“PDVSA continues its gas production, to meet the growing domestic supply, and is focused on export projects with international companies, as well as on its national refining system.”
#VantageOnFirstpost: Donald Trump is threatening sanctions on Russian oil unless Moscow agrees to a deal on Ukraine. He’s also targeting Venezuela with new tariffs and even warning of strikes on Iran.
Will prices spike or slump? @Palkisu tells you. pic.twitter.com/24tg43YSpg— Firstpost (@firstpost) March 31, 2025
“Thanks to the outstanding efforts of its workers, Venezuela stands strong and is carrying out its plan for absolute production independence, as directed by President Nicolas Maduro,” the vice president noted.
Previously, US President Donald Trump decided to cancel permits to export crude oil and derivatives from Venezuela. This affected transnational companies such as Repsol (Spain), Global Oil Terminals (US), Eni (Italy), Maurel & Prom (France), and Reliance Industries (India).
On Sunday, Rodríguez confirmed that Venezuela maintains fluid communication with the transnational oil and gas companies operating in the country. “We were prepared for this situation and are ready to continue fulfilling the contracts with these companies,” she said.
