Event will convene 500 leaders to address investment, gas expansion and regulatory framework

The “Venezuela Energy 2026: Integration and Competitiveness in the Global Market” forum is expected to define the trajectory of Venezuela’s hydrocarbon sector in 2026, bringing together key actors from the public and private spheres to discuss production, investment and policy conditions.

Scheduled for April 27, the event will gather around 500 national and international participants. It is conceived as a high-level platform for strategic coordination and will focus on core areas such as domestic goods and services, energy security, operational performance, the reactivation of mature oil fields, development of the natural gas sector, and the legal and financial framework for integrating national supply.

Sanctions, domestic industry and sector restructuring

In the lead-up to the forum, the Venezuelan Petroleum Chamber (Cámara Petrolera Venezolana, CPV, in Spanish) outlined priorities it considers essential to increasing oil and gas output, including the full lifting of sanctions and the broader incorporation of national companies into sector expansion plans.

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Una publicación compartida por Cámara Petrolera de Venezuela (@camarapetrolerav)

Text Reads: The Venezuelan Petroleum Chamber invites you to the National Forum: “Venezuela Energy 2026: Integration and Competitiveness in the Global Market,” a strategic event designed for companies seeking to lead the sector’s next phase.

Secure your spot at the event that will consolidate the integration of our industry’s value chain:🔹State Vision: Learn about the enabling framework and the new energy model for the country.🔹Business Opportunities: Analyze the plans and projects for the 2026-2030 period.🔹National Content: Discover how to integrate the supply of local services into the demand of major operators.

Álvaro Pérez, first vice president of the CPV, called for the removal of restrictions linked to licenses issued by the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC). “Sanctions must be completely lifted so that everything can progress, allowing Venezuela to become a zero-sanctions country and return to being a normal country like much of the world, without any type of sanctions,” he said.

He added that current transactions remain subject to OFAC licensing conditions, which can affect operations involving international banks and suppliers. “Any transaction that is to be carried out must fall within the current OFAC licensing framework, as foreign banks may intervene and halt it because many actors are not fully aware of the details involved,” Pérez said.

The CPV also underscored the importance of strengthening national participation in the sector, particularly as Venezuela seeks to increase production alongside transnational companies operating with U.S. authorization. “National participation is perhaps the most important element Venezuelans must take into account, as it is truly how we can develop the country,” Pérez stated.

According to the chamber, prioritizing local procurement and employment is central to rebuilding industrial capacity and fostering technical development within the workforce.

The forum will also address recent legal changes, including the repeal of legislation that had reserved certain oil service activities for the state. Pérez described that earlier nationalization as a mistake and warned that restoring private sector capabilities will take time after years of decline. “Companies deteriorated, many disappeared, and some of the people who led them have passed away or are no longer in Venezuela; rebuilding this will require time,” he said.

Despite these constraints, industry representatives point to ongoing efforts by private actors to re-enter the sector, with expectations that service and supply gaps will gradually be filled as new opportunities emerge.

The forum is expected to facilitate engagement between domestic and international stakeholders and to identify potential areas for investment within Venezuela’s hydrocarbon industry.

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