Venezuela oil sector and ongoing opacity

BOGOTÁ, COLOMBIA (By Ana Sanches, Editores Latin Petroleum, 1.Oct.2026, Words: 143) — An investigation by El Nacional reveals management of Venezuela’s strategic resources has been carried out with opacity.

This, owing to the 2020 Constitutional Anti-Blockade Law for National Development and the Guarantee of Human Rights, which elevated secrecy to a principle of governance, the daily reported on 1 Oct. 2026. 

In 2025, crude oil Venezuela delivered to private operators under contracts whose terms were not published amounted to between $7bn-$14bn. 

This, amid no bidding process, no known buyer, and no ultimate beneficiary listed in any registry. 

“No one was held accountable for that money, and the law was written so that no one would have to be,” the daily said.

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By Ana Sanches reporting from Bogotå. © 1999-2026 Energy Analytics Institute (EAI) and its 100% owned Venezuelan affiliate Editores Latin Petroleum CA. All Rights Reserved.

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