Acting President RodrĂguez meets with oil sector officials to outline strategies to increase oil production. Photo: Presidential Press Office.
This Sunday, Venezuelan Acting President Delcy RodrĂguez led a high-level working meeting with the vice ministers of hydrocarbons and the board of directors of PetrĂłleos de Venezuela (PDVSA).
The main objective of the meeting was to evaluate and enhance the energy sector’s production plan for 2026. During the session, the necessary operational tactics were coordinated to sustain the growth of the country’s primary industry, focusing on healthy recovery and the optimization of national refineries.
This joint effort seeks to guarantee the nation’s energy sovereignty, understood as the pillar that sustains the social well-being of all Venezuelans. RodrĂguez emphasized that the Bolivarian Government’s commitment to recovering crude oil extraction and processing levels is unwavering.
The authorities present agreed that administrative efficiency and technological innovation will be the key tools for achieving the goals set in the annual production schedule, thereby ensuring the stability of the internal economic system.
The meeting also provided an opportunity to review progress on the logistical infrastructure supporting hydrocarbon activity across the country’s various basins. It was emphasized that each barrel produced translates directly into investment in social programs, health, and education, fulfilling the strategic vision of wealth redistribution. With these actions, the executive branch reaffirmed its productive role and its management capacity in the face of the challenges posed by the current global energy market.
A key point of the meeting was the analysis of the partial reform of the Hydrocarbons Law, which has already received initial approval from the National Assembly. This legal amendment is designed to integrate projects under the Anti-Blockade Law, thereby attracting international investment funds to strengthen the industry’s financial structure.
Objectives of the Partial Reform of Venezuela’s Hydrocarbons Law
As Acting President RodrĂguez explained, these changes aim to safeguard the inalienable nature of natural resources, ensuring that their extraction always benefits the Venezuelan people, in line with the legacy of Commander Hugo Chávez.
She stated that the objective of the partial reform of the Hydrocarbons Law is to attract national and international investment to transform subsoil resources into improvements in wages, public services, health, and food. She assured that the plan to export fuel in 2026 is maintained within the reform, and she announced the signing of the first contract for the export of natural gas from Venezuela.
RodrĂguez gave an overview of recent oil production:
- Venezuela reached a production of 1,200,000 barrels per day at the end of December 2025.
- The country did not have to import fuel during 2025, thanks to the fully functioning national refining system.
- She highlighted the success of the Productive Participation Contracts (CPP). For example, a field that produced 23,000 barrels per day in April 2024 ended 2025 at 110,000 barrels per day.
The strengthening of PDVSA is strictly aligned with the 7 Transformations mandated by President Nicolás Maduro within the Homeland Plan. Under this premise, the hydrocarbons sector is positioned as the central axis of national development for this year, designated the “Year of the Admirable Challenge.” The goal is clear: to transform the potential of subsoil resources into a tangible industrial reality that will drive GDP growth and strengthen the national currency against external pressures.
The PDVSA board of directors and the ministers reaffirmed their commitment to meeting the expansion targets set for the end of this cycle. They agreed to maintain constant monitoring of the shared investment projects stemming from the new legal framework. Acting President RodrĂguez closed the meeting by reiterating that the oil industry is the heart of the country’s economic resilience and that its success is fundamental to consolidating Venezuela’s status as a powerful nation.
Translation by Orinoco Tribune
OT/AS/SF
