Brief
Oswaldo Felizzola, coordinator of IESA’s International Center for Energy and Environment, says Venezuela’s deteriorated electricity system is constraining oil production and exposing the limits of political control over energy. He argues that the country must bring its legal framework into line with technical and market realities. In his assessment, the power crisis also undermines the foundations of Venezuela’s rent-dependent economic model and complicates any production-led recovery.
The warning frames electricity as a binding constraint on oil recovery, while also linking investment prospects to legal reform. For allocators, it highlights interconnected execution risk: higher petroleum output remains dependent on power infrastructure and rules that reflect technical and market conditions.
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Industry · El Nacional - Economía
Aug 21, 2026
Watch for proposed changes to Venezuela’s energy laws and verifiable evidence that electricity supply to oil operations is improving; progress on both would test whether technical constraints are beginning to shape policy.