Posted on 05/01/2026 7:07:22 PM PDT by BeauBo
Venezuela’s oil exports rose to 1.23 million barrels per day (bpd) in April, the highest level since 2018, as shipments to the United States, India, and Europe accelerated.
Exports climbed 14% from March levels, according to shipping data and PDVSA documents, with 66 cargoes leaving Venezuelan ports during the month. That compares with 61 vessels in March carrying about 1.08 million bpd.
Since the January capture of Nicolas Maduro and the installation of an interim government, Washington has eased sanctions and taken control of Venezuelan oil sales. That shift has reopened access for trading houses and joint-venture partners, including Chevron, to move barrels into U.S., European, and Asian markets...
...International oil companies are also moving back in.
New agreements signed this week with U.S. firms Hunt Overseas and Crossover Energy target the Orinoco Belt, Venezuela’s core heavy crude region. European majors, including Eni, Repsol, and BP are also expanding or exploring positions, while ExxonMobil and ConocoPhillips have sent teams to assess opportunities.
Venezuela is moving from an isolated producer to an active supplier again, with multiple buyers and operators re-entering the system.
Even so, the recovery has limits. Venezuela still produces a fraction of its historical capacity, and rebuilding infrastructure will require tens of billions of dollars over several years.
(Excerpt) Read more at oilprice.com ...
They have a long way to go to restore their once great production, but their revised oil law of 29 January has a bunch of International oil companies heading back in, and results are already showing.
Something tells me in short order there will be oil coming out of our ears.
Venezuela has vast amounts of oil.
Also, UAE just left OPEC (they want to pump more).
https://www.reuters.com/markets/commodities/uae-says-it-quits-opec-opec-statement-2026-04-28/
Every silver lining has its dark cloud.
I recall not too long ago, maybe a month?, that the smart set on this forum bloviated how it would take years and trillions of dollars to fix the Venezuela oil infrastructure and increase production.
Bravo...
It will take years, and a good $100-200 Billion of investment to get Venezuela to full production, but they are progressing smartly toward that, and some big pieces have moved to make it happen (a new law that the State no longer has to own 50% of any project, and variable royalty rates, to enable more profitable deals for investors).
There is low hanging fruit, mid term opportunities, and long term projects that are needed. But the bottom line is that oil exports have already begun rising nicely, and likely have a long upward run ahead.
“Something tells me in short order there will be oil coming out of our ears.”
A new pro-Western regime in Iran would be able to pump up the volume pretty quickly - faster than Venezuela.
The increased production will produce the money to do it - each day is progress - assuming the new regime down there simply allows it to happen.
This is not a dark cloud. Its a reason for hope.
It just takes a few years to get oil production going at full capacity.
And yet gas prices are sky high. Go figure.
Yep - since Maduro has been removed, and we have helped” them manage their oil, the whole of Venezuela is profiting - someone tell the Iranians how that works and help them rid the cesspool of the radicals running the place through sheer terror and massive massacres of citizens...
This is the tip of the iceberg as they begin to replace Iranian oil.
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