A recent report by the Wall Street Journal explained that “seven months after the U.S. deposed strongman Nicolás Maduro, Big Oil has yet to make any big moves in Venezuela”. The report included my remarks on the topic: “It’s like when you’re trying to sell your house,” I explained. “You have a very successful open house with… Continue reading Why Are International Oil Companies Reluctant to Enter Venezuela?
On June 24, 2026, two consecutive earthquakes of magnitude Mw 7.2 and Mw 7.5 — separated by just 39 seconds — struck north-central Venezuela, making them the most powerful seismic events recorded in the country in over a century. The USGS‘s Prompt Assessment of Global Earthquakes for Response estimates a 56% probability that economic damage will… Continue reading Venezuela: A Proposal for a Humanitarian Reconstruction Fund
El 24 de junio de 2026, dos sismos consecutivos de magnitud Mw 7.2 y Mw 7.5 — separados por apenas 39 segundos — sacudieron el centro-norte de Venezuela, los más intensos registrados en el país en más de un siglo. El USGS estima una probabilidad del 53% de que los daños se sitúen entre cien y cien… Continue reading Venezuela: Propuesta para un Fondo de Reconstrucción Humanitaria
On June 10, 2026, OFAC published amended versions of General Licenses 46C, 47A, 48B, 50B, 51B, 52A, and 54A for the Venezuelan extractive sectors. The changes clarify and modify aspects of the governing law and the dispute-resolution mechanism, both of which have raised issues under Venezuelan law. The original licenses provided that the contracts signed… Continue reading The Regulatory Changes in the Governing Law and Dispute Resolution of Venezuelan Oil, Gas, and Mining Contracts
According to a news report, the draft oil contract prepared following the organic hydrocarbons law reform is under review amid increased investor concerns. A U.S. government delegation is set to travel to Caracas. The concerns are well-founded. The core of the reform approved in January 2026 is to transfer the operation of oil activities from PDVSA’s affiliates and joint ventures to… Continue reading How to eliminate the risk of the “expropriation clause” in the new Venezuelan oil contract model
The announcement by Venezuela’s Sectoral Vice-Presidency for Economy regarding the launch of the public-debt restructuring, together with the press release — in English — by the financial-advisory firm Centerview, has generated a range of debates, particularly among economists. Beyond the economic considerations, there is a legal dimension that should not be overlooked. In essence, the announced restructuring is, first… Continue reading Untangling the Knot of the Venezuela´s Public Debt: Legal Notes on the Reestructuring Announcement