Who currently oversees Venezuela's oil resources? The impact of Maduro's detention on global energy markets

Venezuela’s Oil Sector Faces Uncertainty After Maduro’s Detention

The recent detention of Nicolás Maduro has once again spotlighted Venezuela’s turbulent oil sector, prompting stakeholders to reconsider the nation’s energy leadership and the prospects for reviving its struggling oil industry after years of setbacks.

Currently, the situation appears clear-cut. According to Andy Lipow, president of Lipow Oil Associates, “The state-run company Petróleos de Venezuela (PDVSA) holds the bulk of the country’s oil output and reserves.”

Chevron, a major U.S. energy firm, maintains a presence in Venezuela through both independent operations and a partnership with PDVSA. Additionally, Russian and other international interests are involved in the sector.