Brief
Former PDVSA executive director Evanan Romero says the Trump administration’s plan to revive Venezuela’s economy is failing because the oil sector still lacks legal certainty and meaningful private investment. He argues that these constraints are holding back the national industry while PDVSA seeks to retain control of 60% of production without contributing capital. His assessment highlights a mismatch between state control and the financing needed to restore output.
Romero’s warning points to a central barrier for oil-sector recovery: private investors may remain unwilling to commit capital if PDVSA retains majority control while offering insufficient legal protection. Without a workable allocation of capital, control and risk, production recovery could remain constrained.
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Oil And Gas · El Nacional - Economía
Aug 11, 2026
Watch for firm private investment commitments, new legal protections for oil investors, or changes to PDVSA’s proposed 60% production control. Any of these would test whether the current model can attract capital.