US EditionCeraweek Venezuela Opposition Leader Maria Corina Machado Pushes for ...
Machado urged reforms to increase transparency and secure $150 billion investment needed for Venezuela's oil sector, proposing reduced PDVSA role and private sector involvement.
- On Tuesday, Venezuelan opposition leader Maria Corina Machado pitched a private sector-led oil industry at CERAWeek in Houston, calling for a new oil law to attract $150 billion in investment.
- Venezuela holds an estimated 303 billion barrels of crude oil reserves, yet output has plunged from 4 million barrels per day in the 1970s to about 1.1 million barrels per day today.
- Machado pledged a democratic government would provide robust security to protect assets, private property rights, and royalties capped at 25 per cent to facilitate international operations.
- Chevron CEO Mike Wirth said on Monday that more work is needed to secure investment conditions, while ConocoPhillips CEO Ryan Lance argued Venezuela needs to "completely rewire" its fiscal system.
- Critics like Allie Rosenbluth, United States Campaign Manager at Oil Change International, warn that Machado's appearance highlights how instability opens doors for fossil fuel companies to entrench global operations.
17 Articles
17 Articles
María Corina Machado pitches Venezuela investment to skeptical oil leaders at CERAWeek
While speaking at the global energy conference in Houston, the Venezuelan opposition leader and Nobel Peace Prize winner laid out her vision for her country's oil industry as U.S. companies remain hesitant to get involved there.
Venezuelan opposition leader María Corina Machado attended the largest energy conference in the world this Tuesday, CERAWeek, which takes place this week in Texas. At the Hilton Hotel in Houston, she exposed to oil investors her ideas for a prosperous future for them in Venezuela, with a plan focused on security and transparency. Later, in the city hall square of the city of Texana, she reminded hundreds of Venezuelans who met to receive her tha…
Machado Invites Global Energy Executives to Invest in Oil-Rich Venezuela’s ‘New Chapter’
HOUSTON—Post-Maduro Venezuela will “offer the most competitive space in the Western Hemisphere” for energy development as it transitions into a democracy that will privatize state-owned industry, offer 25-year contracts, and keep royalties below 20 percent, 2025 Nobel Peace Prize winner and the oil-rich country’s opposition leader Marina Corina Machado pledged on March 24. “So here’s my invitation, directly to you,” she pitched energy executives…
Washington, 24 Mar (EFE).- Opposition leader Maria Corina Machado presented on Tuesday an energy plan for Venezuela to dozens of U.S. oil companies at the CERAWeek conference in Houston Texas in which she highlighted the intention to minimize the state role within the oil investments of the South American country. Machado offered oil investors to end Venezuela’s “isolation of energy resources” and limit state action, during his intervention at C…
Venezuelan opposition leader María Corina Machado said this Tuesday during her speech at the CERAWeek by S&P Global conference in Houston that Venezuela could significantly increase its oil production if it achieves a democratic transition and implements deep reforms in its energy sector. During her speech to industry leaders, the Nobel Peace Prize presented a plan to transform the Venezuelan oil industry, moving from a state-controlled model to…
Oil Change response to María Corina Machado's speech at CERAWeek
Today, Venezuelan opposition leader María Corina Machado held a session on “the future of Venezuela” at CERAWeek, one of the world’s largest oil and gas conferences, where she spoke in support of U.S. oil and gas companies’ return to the country with a bold pitch for a “comprehensive plan” on opening up Venezuela’s oil reserves to “100% private investment.” From the CERAWeek stage, Machado publicly offered to meet with oil and gas executives thi…
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