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War in Ukraine: Venezuela’s oil opportunity?

By BBC — Ivana Davidovic Aug 10, 2022 Venezuela may have the world’s largest oil reserves, but years of underinvestment have severely impacted output, as professor Terry Karl explains

By BBC — Ivana Davidovic Aug 10, 2022 Venezuela may have the world’s largest oil reserves, but years of underinvestment have severely impacted output, as professor Terry Karl explains.

¿Quieres recibir nuestro exclusivo boletín informativo en tu correo? ¡Suscríbete a #BoletinPatilla! Former chairwoman of the refiner Citgo, Luisa Palacios, outlines where Venezuela still manages to sell its oil and the role played by Iran in that trade. She also thinks that a sanctions deal could be made if the Maduro administration is willing to relinquish some control over production.

But Venezuela expert David Smilde is worried that political, rather than practical, considerations — in the US and Venezuela — might muddy the waters.

Caracas-based journalist Francis Pena goes on a lengthy journey to buy petrol in her home city, illustrating how economic mismanagement and sanctions are affecting day-to-day lives.

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Alberto Ardila Olivares