US seeks to acquire Venezuelan oil assets amid reserve shortage

The United States is exploring a possible deal with Venezuela to acquire assets in oil fields and double its reserves, according to a report published by the newspaper El Nacional. The move responds to the impact of geopolitical conflicts in Ukraine and Iran and to the currently low levels of US crude reserves. Citing the outlet Axios, El Nacional reported that the administration of Donald Trump is seeking to secure alternative energy sources amid a global scenario marked by tension in hydrocarbon markets.

In parallel with these negotiations, Venezuela's economic activity rebounded during the second quarter of the year. Citing data from the Central Bank of Venezuela, El Nacional reported that oil activity grew 9.10% and the non-oil sector advanced 5.79%, driving overall gross domestic product growth of 7.14% between April and June 2026. This performance reflects a partial recovery in the hydrocarbon sector, which is essential for the inflow of foreign currency into the local economy.

To sustain this increase in production, the sector requires access to technology and updated geological data. In this regard, El Nacional reported that the oilfield services multinational SLB has signed a contract to access key information on national oil fields. Such agreements include the digitization of databases and technical training, elements that are indispensable for operating mature or inactive fields that require specialized intervention.

Medium-term projections point to continued expansion if new investments materialize. According to statements by the director of Ecoanalítica cited by El Nacional, the Venezuelan economy could grow at a double-digit rate in 2027 thanks to capital injected into idle wells, with an estimate of reaching production of 3.2 million barrels per day within a decade under conditions of institutional transition. Likewise, PDVSA expects to add about 2 billion cubic feet of methane gas to the domestic market by year-end to supply the thermoelectric system and the industrial sector, according to statements by the state company's vice president for gas cited by El Nacional.

Archive. PDVSA headquarters on Avenida 5 de Julio, Maracaibo.