Brief
Andrés Sosa Pietri, a former president of state oil company PDVSA, said Venezuela has the capacity to produce 15 million barrels of oil per day. He also criticized the agreement with Nabep and argued that the country should restore the legal framework established by the 1943 Hydrocarbons Law. His remarks pair a high-end production claim with a proposed change to the rules governing Venezuela’s oil industry.
The claim highlights the scale of Venezuela’s perceived oil upside, but the criticism of the Nabep agreement and call for an older legal regime underscore that sector governance remains contested. Investors would need policy clarity before treating the production estimate as an investable pathway.
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Oil And Gas · El Nacional - Economía
Sep 8, 2026
Watch for a formal government or legislative response on the Nabep agreement and the 1943 Hydrocarbons Law, alongside any operational plan showing how production could approach the stated 15 million-barrel daily capacity.