Venezuela’s Delcy Rodríguez Touts Post‑Maduro Oil‑Sector Overhaul and Sanctions Relief to Miami Investors
Acting President Delcy Rodríguez remotely pitched Venezuela’s newly opened oil sector at a Saudi‑backed Miami investment summit, saying a new oil law ends state oil company PDVSA’s monopoly over production, sales and pricing and lets private firms control those activities with disputes routed to independent international arbitration. She told investors the overhaul — which she tied to changes since Nicolás Maduro’s Jan. 3 capture and to phased U.S. sanctions relief under pressure from the Trump administration — will drive double‑digit growth over the next three years, that 64% of a barrel’s production cost is “room for negotiation” via lower royalties and taxes and dividends, and that output has rebounded to about 1 million barrels per day (up from under 400,000 in 2020 but well below 1999’s 3.5 million bpd).
📌 Key Facts
- Acting President Delcy Rodríguez remotely addressed a Saudi-backed investment summit in Miami from Caracas, pitching Venezuela’s newly opened oil sector to investors.
- Rodríguez described a new oil law that ends PDVSA’s monopoly over production, sales and pricing, grants private companies control of those activities, and allows disputes to go to independent international arbitration rather than Venezuelan courts controlled by the ruling party.
- She said the government overhauled oil-industry regulations in less than three months after Nicolás Maduro’s Jan. 3 capture by U.S. forces, and that the changes were made under pressure from the Trump administration in exchange for phased loosening of U.S. sanctions.
- Rodríguez projected double-digit economic growth for Venezuela this year and the next two years, and said 64% of a barrel’s production cost is “room for negotiation” via reduced royalties, lower income tax and higher investor dividends.
- The article updates production figures: Venezuela currently produces about 1 million barrels per day, up from under 400,000 bpd in 2020 but well below the roughly 3.5 million bpd produced in 1999.
📊 Relevant Data
The Venezuelan immigrant population in the United States grew by 318% from 2010 to 2023, with approximately 254,000 living in the broader Miami metropolitan area as of 2026, making Miami home to the largest Venezuelan community in the U.S., where Venezuelans represent a significant demographic in cities like Doral.
7 facts about Venezuelans in the U.S. — Latino Times
U.S. Temporary Protected Status (TPS) for Venezuela was designated in 2021 due to political turmoil and economic collapse, extended multiple times, but the 2023 designation was terminated in 2025, affecting beneficiaries' ability to remain and work legally, with the 2021 designation extended through October 2026 subject to litigation.
Temporary Protected Status Designated Country: Venezuela — USCIS
Venezuelan households contribute more than $10.6 billion annually to the economies of Latin America and the Caribbean as of 2025, with Venezuelan immigrants in the U.S. having a median annual household income of $71,900 in 2023, compared to $78,700 for all immigrant-led households.
Venezuelan Migrants Add Over USD 10 Billion a Year to Regional Economies — International Organization for Migration
Venezuela's average oil production cost is approximately $10-12 per barrel, significantly lower than the U.S. average of $60-70 per barrel, with full-cycle costs ranging from $39 to $46 per barrel depending on well productivity as of 2026.
Full-Cycle Cost of Venezuelan Oil — Incorrys
U.S. sanctions on Venezuela, imposed to pressure the Maduro regime, contributed to declining oil production alongside mismanagement and corruption, with projections indicating potential oil output recovery to 1.3-1.4 million barrels per day within two years post-transition as of 2026.
Maduro is gone. What's next for the economy of Venezuela? — Focus Economics
📰 Source Timeline (2)
Follow how coverage of this story developed over time
- Acting President Delcy Rodríguez addressed a Saudi‑backed investment summit in Miami remotely from Caracas, explicitly pitching Venezuela’s newly opened oil sector to investors.
- She described a new Venezuelan oil law that ends PDVSA’s monopoly over production, sales and pricing, granting private companies control over those activities and allowing disputes to go to independent international arbitration instead of ruling‑party‑controlled Venezuelan courts.
- Rodríguez said that since Nicolás Maduro’s Jan. 3 capture by U.S. forces, the government has overhauled oil‑industry regulations in less than three months under pressure from the Trump administration, in exchange for phased loosening of U.S. sanctions.
- She projected double‑digit economic growth for Venezuela this year and the next two years and claimed 64% of a barrel’s production cost is ‘room for negotiation’ via reduced royalties, lower income tax and higher investor dividends.
- The article updates production figures: Venezuela currently produces about 1 million barrels per day, up from the sub‑400,000 level in 2020 but far below the 3.5 million barrels per day of 1999.