Plenary Session 1: Venezuela’s Oil Sector Renaissance, Global Oil Markets & Capital Allocation

Reopening a Global Energy Giant: Policy Transformation, Investment Return and Market Impact. After years of decline and isolation, Venezuela stands at a pivotal moment in its energy history. Sweeping policy reforms, evolving legal frameworks, and renewed international engagement are reshaping the landscape for investment and production. However, a sustainable recovery relies on more than infrastructure: it requires strong institutional frameworks, bulletproof governance, and proactive measures to avoid the structural mistakes of the past. Beyond energy metrics, reconstructing a stable nation capable of offering a high quality of life will be essential to attracting both international capital and a skilled diaspora back to the country. The question is no longer whether Venezuela can return — but how fast, at what scale, and under what conditions. This high-level opening plenary brings together government leaders, industry executives, and global energy stakeholders to examine the strategic direction of Venezuela’s energy sector and its broader national rebuilding process.

With: Erik Keskula, Upstream Chief Executive Officer, UCC Oil and Gas; Scott Gilbert, CEO, Corcel Plc & Non-Executive Chairman, Apertura Energy Plc; Luis Xavier Grisanti Cano, Assistant Professor and Associate Director, Centro Internacional de Energía y ambiente (CIEA)

Moderated by: Álvaro Martínez de Bourio, Managing Director & Senior Partner, BCG