Venezuela energy summit to focus on investment as oil sector rebounds

The Venezuela International Oil & Gas Summit (VIOGS) will bring government representatives, energy companies, investors, contractors, and service providers to Caracas from September 28 to 30, 2026.

The event will examine the investment, infrastructure, partnerships, and operational work required to support the recovery of Venezuela’s oil and gas sector. It comes as production rises and the country pursues new agreements with international companies. According to the organizers, the central focus will be “how Venezuela’s vast energy potential can be transformed into commercially viable, bankable, and deliverable projects.”

Venezuela holds the world’s largest proven crude oil reserves. The U.S. Energy Information Administration placed those reserves at approximately 303 billion barrels in 2023.

However, its production has remained far below historical levels after years of underinvestment, deteriorating infrastructure, operational problems, and international sanctions. The country produced more than three million barrels per day in the late 1990s. Output has recently shown signs of recovery. Venezuela was producing around 1.25 million barrels per day by August 2026, according to U.S. Energy Under Secretary Kyle Haustveit. That was up from approximately 880,000 b/d in early January.

Shipments were supported by increased sales to the United States, India, and Europe. The investment environment has also started to change. Since January, the U.S. Department of the Treasury’s Office of Foreign Assets Control has issued or amended several licenses covering Venezuela’s natural resources sector.

The authorizations cover specified activities involving Venezuelan oil and petrochemical products. They also allow certain transactions involving oil and gas operations, the sale of U.S.-origin diluents, and the supply of selected goods and services.

Despite the rebound, Venezuela requires substantial investment to rehabilitate fields, pipelines, refineries, storage facilities, and other infrastructure. Much of its crude is heavy and requires diluents and specialized processing.

Against that background, VIOGS will organize its program around five areas: investment and bankability, operational execution, infrastructure and logistics, gas monetization, and partnerships and collaboration.

Investment discussions will consider how capital can be structured, deployed, and protected. They will also examine the conditions projects must meet to attract financing and become commercially viable.

Sessions on operational execution will focus on the work needed to restore and expand production. Infrastructure and logistics discussions will cover the facilities, equipment, transportation networks, and supply chains required to support operations.

The gas monetization segment will examine ways to develop Venezuela’s natural gas resources and create commercial markets for the fuel. Partnership discussions will explore cooperation among the government, operators, investors, contractors, and service companies.

The summit expects more than 450 senior-level delegates from over 30 countries. Its program is expected to include more than 125 speakers.

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