Understand how the Venezuelan economy moves.
While authorities promote these actions as progress, business guilds and the financial community suggest that deeper changes are required, such as eliminating the IGTF and revising tax rates.
Fortune magazine reported that American economist Steve Hanke and Venezuelan deputy Antonio Ecarri are working on a plan to formally dollarize Venezuela.
Jovanny Martínez, executive vice president of PDVSA, and Hunter L. Hunt, president of Hunt Oil, signed an oil production contract during the IMAGE 2026 conference in Houston, Texas.
Given the constraints, financial products have reemerged alongside private microfinancing and social programs that address needs, entrepreneurship, and personal consumption.
Venezuela is beginning to regain access to its frozen international reserves, stemming from the international recognition crisis that began in 2019.
China owns a relatively modest portion of Venezuela’s external debt, but could invoke a veto power.
The two recent rulings on labor lawsuits against Halliburton and the seizure of its assets create a new jurisprudential framework in Venezuela’s oil industry.
The new superintendent of the National Integrated Customs and Tax Administration Service (Seniat), Román Maniglia, has initiated a series of strategic meetings with private banks and the country’s main business guilds.
Conatel has reported that more than half of internet subscribers depend on fiber optics, underscoring the need for a robust infrastructure.
Today, the demand of one country is beginning to play an equally important role in the oil market: China.
