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Venezuelan opposition leader Maria Corina Machado stated that '150 billion dollars' in investment is needed for Venezuela's oil industry future, highlighting the establishment of a reliable institutional framework.

Vision for the Future of Venezuela's Oil Industry

Maria Corina Machado, Venezuelan opposition leader, delivered a message on the future of Venezuela's oil industry, stating that the goal is to increase production by 5 million barrels within 10-12 years, not just half a million barrels in the short term. This large-scale plan, significantly exceeding previous estimates, is expected to be a key driver for Venezuela's economic recovery.

$150 Billion Investment and New Institutional Framework

Machado emphasized that an investment of $150 billion is required to achieve this goal and urged participants at the CERAWeek event in Houston to join in the reconstruction of Venezuela's oil industry. She added that a new institutional framework is being built to ensure investment stability, and strong relationships will be fostered with the new government that will be formed after the upcoming general elections.

*Source: YouTube: Reuters (2026-03-25)*

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