Live Intelligence · Q2 2026
- Apr 16, 2026Repsol signs new deal with PDVSA — recovers operational control of Petroquiriquire and targets 50% production increase. Repsol holds 40% of the joint venture. This is the most concrete oil sector re-entry execution since the OFAC relief began. Operators and service companies: the window is open.New
- Apr 15, 2026OFAC GL 57 — US lifts sanctions on Venezuelan public banking system. BCV, Banco de Venezuela, Banco Digital de los Trabajadores, and Banco de Tesoro are now cleared for certain transactions. Venezuela's Banking Association calls it the most important OFAC action yet. The full sanctions architecture remains — this is not a clean slate, it is a cleared lane.OFAC
- Apr 2026Mining sector opened to foreign investors. Rare earths, niobium, platinum group metals, gold, and diamonds. Largest single market-access signal since the OFAC relief in January.New
- Jan 2026OFAC sanctions relief on acting President Rodríguez — 50-million-barrel oil supply deal authorized. General license authorizes oilfield equipment, services, and supply chain engagement. Full sanctions architecture remains in place; relief is targeted and conditional.OFAC
- Q1 2026Shell deal signed. ExxonMobil Caracas engagement active. Trafigura gold deal $100–165M. Oil sector re-entry is moving from authorization to execution. Operators need power, housing, communications, logistics, equipment, food supply chains, and medical services.
- Jan 2026Maduro arraigned in the Southern District of New York. Acting President Delcy Rodríguez assumes operational control — pledged to move “at Trump speed.” Internal authority is contested.
- Feb 2026US Embassy in Caracas reopened after 7-year closure. John Barrett is the new Chargé d'Affaires (April 2026), replacing Laura Farnsworth Dogu. No ambassador nominated.
Sectors — Active Opportunity
Mining & Critical Minerals
Oil & Gas
Energy Infrastructure
Oilfield Services
Logistics & Supply Chain
Construction & Engineering
Telecom & Technology
Healthcare & Pharmaceuticals
Primary Risk
Rodríguez's authority is contested internally — the transition is fragile. OFAC sanctions can be reinstated on short notice. No capital should enter without political risk insurance and a documented exit structure that does not depend on a functional government counterpart. This is not a low-probability scenario.
Franco Calderón · Latambusiness.org
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