Part 15/17:
Venezuela’s oil sector, plagued by mismanagement, corruption, and sanctions, is slowly rebuilding. Chevron has begun limited operations, with increased investment expected but still facing significant challenges before reaching pre-crisis production levels. The Biden administration ties further sanctions easing to political reforms, democratic processes, and human rights considerations—highlighting the complex geopolitics intertwined with energy needs.
This re-entry of Venezuela into global markets marks a notable shift in the global energy landscape, offering potential relief for markets seeking alternative sources amid geopolitical instability.