The Venezuelan government, through the Ministry of Hydrocarbons and the ruling United Socialist Party (PSUV), condemned Machado’s privatization plan as unconstitutional and demagogic. Official statements labeled her a representative of extremist and sellout factions lacking legitimate authority to speak for the nation’s resources. The government reaffirmed that petroleum reserves remain in state hands under the Hydrocarbons Law reforms, which allow operational changes but not ownership transfer. Delcy Rodríguez has concurrently offered assurances to U.S. investors about safe returns and signaled a prospective sanctions-free environment to encourage capital inflows.
This polarization occurs as U.S. officials, including Energy Secretary Chris Wright, engage Venezuelan counterparts to facilitate investments and production recovery. Opposition leaders like Edmundo González support scaling up output by targeting corruption and rebuilding infrastructure. Machado’s plan also positions Venezuela as a stable alternative energy partner amid global geopolitical tensions. The unfolding debate will significantly influence Venezuela’s energy sector trajectory, balancing sovereign control against private sector growth amid evolving international and domestic dynamics.
This article was curated and published as part of our South American energy market coverage.
