- Venezuela’s new hydrocarbons minister, Paula Henao, pitched the country in Houston as an investment opportunity — citing 916 exploration prospects and massive resources (about 192 trillion cubic feet of gas and 300+ billion barrels of oil).
- Big oil is cautious—Chevron stayed, Exxon is upbeat and BP/Shell eye offshore gas—but smaller U.S. players like Hunt Oil, SLB and Crossover are already signing deals and moving in.
- Production has risen from ~1.0 to ~1.2 million barrels a day recently, and investors/analysts say with legal reform and capital Venezuela could climb back above 3 million (some even forecast ~3.5M) barrels a day.
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