AGP Executive Report

Venezuela–Barbados Cooperation: Acting President Delcy Rodríguez and Barbados PM Mia Mottley signed and ratified a joint declaration to deepen ties across energy, food security, agriculture/fisheries, education/culture, tourism, and maritime/air connectivity, with a direct focus on practical projects. Earthquake Response & Health Infrastructure: The leaders toured a Barbadian mobile field hospital in Guarenas, Miranda, treating 2,700+ patients since July in a 500 m² setup with 30 beds and modular surgical capacity. Oil & Investment Push: Rodríguez said Venezuela’s oil output hit 1.23 million bpd, the highest operational level since 2019, alongside 50 strategic oil-and-gas agreements with private and international investors. Construction Skills Pipeline: Venezuela opened registration for a National Construction Training Program via INCES and labor/education channels, targeting certified trades from electricians to plumbers. Poultry Growth Plan: FENAVI projects 1.5 million tons of chicken meat in three years, with a push toward exports and packaging upgrades for international standards. Energy Market Pressure (Global): Reuters reports Asian refiners are set to buy far more US crude in September, tightening supplies and raising costs—an external factor that can ripple into Venezuela’s export economics. Sanctions/Policy Shock (US–Iran): The US launched a renewed “economic D-Day” sanctions push on Iran, keeping global oil risk elevated.

Venezuela Oil & Ports: Exports are rising but Venezuela’s dilapidated ports and loading capacity are still a bottleneck, with tankers reportedly stacking up and delays stretching to month-long waits as demand outpaces infrastructure. Energy Policy & Gas: Analysts say Venezuela’s gas could attract major partners like BP and Shell more than Trinidad & Tobago’s Point Lisas, while the energy ministry pushes new exploration alongside rebuilding. Currency & Dollarization Debate: A new push for U.S. dollar adoption is back in the spotlight, with Steve Hanke again arguing dollarization is the fastest route to stabilize prices after years of hyperinflation. Communal Economy & Climate Campaigns: PSUV rolled out “climate and energy awareness” drives in Aragua and Cojedes, and communal councils reviewed plans tied to municipal voceries renewal and community political teams. Real Estate Regulation: Venezuela’s National Assembly approved a law aimed at protecting real estate developers, signaling tighter rules for construction and property activity. Security & Finance Crime: A Venezuelan national was sentenced to 8 years in the U.S. for ATM jackpotting tied to Tren de Aragua, underscoring ongoing cross-border financial crime risks.

Dollarization Debate: Steve Hanke (“Money Doctor”) is again pushing full U.S. dollar adoption for Venezuela, arguing it’s the fastest way to stop inflation and stabilize prices. Crypto in Trade: Tether CEO Paolo Ardoino says USDT use is rising in Venezuela as people lean on “digital dollars” amid currency weakness and dollar access limits. Oil Export Bottlenecks: Reports say Venezuela’s ports can’t keep up, with tankers facing long waits and an oil export ceiling slowing shipments. Energy & Community Mobilization: PSUV carried out territorial deployments to promote “Climate and Energy Awareness,” while Apure communal councils reviewed 2026 renewal plans for communal political teams and agroproductive work. Oil Market Pressure: Oil prices pulled back as investors awaited details on new U.S. sanctions on Iran, keeping regional shipping and energy planning tense. Parliament & Currency Policy: Venezuela’s National Assembly removed opposition deputy Antonio Ecarri from the Venezuela–U.S. friendship group after a dollarization push tied to economist Steve Hanke.

Oil Exports & Ports: Reuters reports Venezuela’s aging port terminals are effectively capping exports, with tankers waiting up to 30 days to load due to disrepair, power outages, and product quality issues. Telecom Investment: The U.S. authorized new investment aimed at Venezuela’s telecommunications infrastructure, potentially enabling upgrades to fiber networks and mobile coverage while avoiding broader sanctions pressure. Currency & Politics: Venezuela’s National Assembly removed opposition deputy Antonio Ecarri from the Venezuela–U.S. Parliamentary Friendship Group after a dollarization push linked to economist Steve Hanke. Energy & Industry Deals: Analysts say Venezuela gas agreements involving BP and Shell could steer supply toward higher-paying LNG markets, raising questions for Trinidad and Tobago’s local downstream needs. Agriculture & Livestock: Miranda will register more than 2,000 cattle producers under the National Plan for the Characterization of the Cattle Herd starting Aug. 24. Housing Rules: The National Assembly approved a new law to promote and protect housing construction, updating rules for residential property development and sales.

Oil Exports & Ports: Venezuela’s crude export push is hitting a hard ceiling as dilapidated ports force tankers to wait up to 30 days, with infrastructure, power outages, and quality issues slowing loading. Sanctions & Telecom: The U.S. eased Venezuela sanctions to allow new investment in telecommunications, aiming to boost connectivity and modernize networks. Currency Debate: Steve Hanke’s “Money Doctor” push for full dollarization is back in focus, with claims it could tame Venezuela’s inflation by ending bolivar reliance. Oil Sector Expansion: Venezuela’s hydrocarbons minister says new exploration is needed to expand reserves and invites foreign firms to help rebuild and search for fresh oil and gas. Housing Law: Venezuela’s National Assembly approved a law to protect housing construction and real estate buyers, updating rules for contracts and oversight after the earthquake recovery push. Communal Economy: Delcy Rodríguez highlighted communal production as a pillar for local supply and youth inclusion, while urging export-strengthening of locally made goods. Livestock Registration: Miranda begins registering thousands of cattle and other producers under a national herd characterization plan to support health monitoring and disease prevention.

Oil & Ports: Venezuela’s oil push is hitting a hard export ceiling as tankers face month-long delays from dilapidated port terminals, power outages, and crude quality issues, undercutting new sales deals. Exploration Drive: In Houston, the hydrocarbons minister said Venezuela wants fresh exploration and foreign partners to expand proved reserves, citing “916 opportunities” and reworking decades of seismic data. Energy Sector Signals: The government is also talking with investors about restarting the Pointe-a-Pierre refinery (demand for refined products is rising), while local officials tout infrastructure habitability checks like the Caracas Simón Bolívar Stadium green label. Agriculture & Food Supply: Confeagro reports sorghum planting in Guárico (plus more planned in Portuguesa and Anzoátegui) to diversify cereals amid heat stress. Policy & Business Climate: The National Entry System closed and selected 321,197 students, while the National Agricultural Health Institute moves to simplify electronic label reviews and link systems with customs and tax services. Local Politics: PSUV mobilized in Barinas ahead of Oct. 18 consultations, focusing on community councils, organization, and energy-saving awareness.

Oil Export Bottleneck: Tankers are waiting up to 30 days as Venezuela hits an oil export ceiling, with port outages and loading problems limiting shipments to roughly 1.25 million bpd. Energy Investment Signals: Venezuela’s oil reopening is drawing fresh U.S. industry attention, while ExxonMobil and other majors weigh new production deals as infrastructure constraints persist. Agriculture Modernization: INSAI is simplifying agricultural health label reviews with an electronic process and a single national registry, aiming to cut delays for producers. Cereal Push: Confeagro reports sorghum planting of 2,300+ hectares in Guárico, with more planned in Portuguesa and Anzoátegui to diversify cereals under heat stress. Livestock Export Path: The cattle herd characterization plan starts Aug. 24 to support foot-and-mouth-free health certification and unlock international livestock market access. Education & Housing Supply: Delcy Rodríguez says 321,197 students were selected in the National Entry System, and highlights new housing-construction reforms to attract investors. Infrastructure Quality Check: Caracas’ Simón Bolívar Monumental Stadium received a green habitability label after inspection. Local Industry Events: Expo School Fair 2026 and the Producer Girls and Boys Expo were inaugurated to boost school supplies via national producers.

Defense-Linked Economy: A new Miranda Center study says Venezuela’s armed forces kept loyalty under Maduro by becoming a major economic actor, with 44 defense-linked entities (including 24 companies) spanning banking, oil and gas, mining, agriculture, transport, manufacturing, and tourism, plus military officers sitting on state-company boards. Livestock Health & Exports: The National Plan for the Characterization of the Cattle Herd 2026 starts Aug. 24, aiming to certify Venezuela as free of foot-and-mouth disease and unlock international livestock export opportunities. Airport Recovery Operations: Maiquetía’s provisional airport terminals began operational simulations for airlines (Laser Airlines and Conviasa), testing check-in, security protocols, air-conditioning, passenger flows, and baggage handling after June 24 quake damage. Community Media Support: Caracas radio stations received technical equipment via MIPPCI to improve transmissions and strengthen alternative and community broadcasting. Oil Export Bottleneck: Reuters reports tankers face waits up to 30 days to load Venezuelan crude due to aging ports, power outages, and quality/storage constraints, limiting exports to about 1.25 million bpd despite rising production. Offshore Gas Deals: Venezuela signed offshore gas agreements with BP (Loran Phase 2) plus XRG/ADNOC and Qatar’s UCC Holding, with parallel development alongside Shell’s Phase 1 and plans tied to LNG processing in Trinidad.

Venezuela Oil Deals in Houston: Acting President Delcy Rodríguez signed two major agreements with Texas firms—Hunt Oil for production contracts to restore and optimize mature fields, and SLB for reservoir studies and services—marking a fresh push to expand crude output and map underground potential after legal reforms reopened the sector. Construction Skills Drive: The National Training Program for Construction Workers is rolling out 17 technical profiles, safety training, and short workshops via Community Councils, the Patria System, and Inces/Mpppst portals, aiming to feed projects like Venezuela Renace and housing missions with certified labor. Earthquake Debris Turned to Inputs: Ecosocialism Minister Nelson Rodríguez said 2.1 million tons of rubble have been collected and processed, with daily waste stabilized at 280–300 tons, to prevent landfill liabilities and support reconstruction. Infrastructure Reopening Check: Caracas’ Simón Bolívar Monumental Stadium passed habitability inspection with a “green label,” clearing the way for sporting and mass events. Agri-Food Push: Venezuela backed mussel seed planting/harvesting in Sucre to boost marine aquaculture and food sovereignty, while producers in Apure launched El Niño drought contingency plans for cattle and buffalo operations.

Oil Sector Momentum: Venezuela’s oil recovery is moving from announcements to operations, with Hunt Oil signing production participation contracts for the Caro and Carisito fields and SLB pushing integrated reservoir studies, while U.S. refineries take about half of Venezuela’s output. Energy & Grid Strain: Despite GDP growth, daily life is still hit by power rationing tied to grid weakness and El Niño-linked stress, with outages stretching and spreading across industrial regions. Foreign Investment Watch: SLB and Formentera say they’re working to reactivate or import drilling rigs, but Exxon and others remain cautious over contract and investment-security concerns. Macro Snapshot: Venezuela’s GDP rose 7.14% in Q2 2026, with oil up 9.10% and non-oil up 5.79%, marking 21 straight quarters of expansion. Regional Ties: Colombia and Venezuela are aligning on recovery, security, and economic growth after earthquakes, with border cooperation and migration pressures in focus. Global Demand Shift: India is increasing crude sourcing from Venezuela as Middle East disruptions and Strait of Hormuz risks push refiners to diversify. Public Safety: National Firefighters Day highlights the role of Venezuelan firefighters during major disasters, including the June 24 earthquakes. Market Integrity Risk: A new report flags more than 150 Polymarket wallets as likely benefiting from inside information tied to U.S. military events, raising national security concerns.

Construction & Housing Recovery: Venezuela’s acting president Delcy Rodríguez pushed the post-earthquake rebuild in La Guaira, reopening strategic businesses and delivering 478 loans to entrepreneurs, while also rolling out a National Training Program for construction trades (plumbers, masons, electricians, carpenters) to feed housing and infrastructure projects. Energy & Oil Deals: Venezuela keeps pulling in foreign operators as U.S.-linked momentum grows: Texas firms SLB and Hunt Oil signed contracts with PDVSA to develop the Caro and Carisito fields, and SLB is moving to reactivate 15 idle rigs. Food Security: The government agreed with agro-industry to prioritize the winter 2026 rice harvest, with import licenses tightened for buyers that don’t purchase domestic production. Regional Industry Context: U.S. plans a hospital ship to Peru for El Niño preparedness, while Colombia’s quake response continues with international rescue teams rotating home. Governance & Institutions: A political debate piece argues Venezuela is in a transitional experiment—negotiations include renewing the Supreme Court and discussing electoral reforms, but outcomes remain uncertain.

Venezuela Energy Opening: BP and ADNOC are lining up a major offshore gas push in Venezuela, signaling renewed confidence as U.S. pressure meets Caracas’ post-Maduro revival. Oil Market Reality Check: Venezuela’s crude exports to the U.S. remain strong, while global prices stay sensitive to Middle East risk around the Strait of Hormuz. Sanctions Relief for Operators: ONGC received an OFAC green light to expand Venezuela activities, with potential to take a bigger operational role in projects tied to PDVSA. New Drilling Plans: Repsol is eyeing 2027 for Venezuela’s Horcon drilling as foreign firms accelerate plans. Power Sector Move: Venezuela reactivated Tocoma hydroelectric capacity to add 160 MW to the grid with U.S. support, aiming to stabilize electricity supply. Industry Finance: Northern Oil and Gas announced a $500m senior notes plan, while INDUS completed a 757,000 sq ft logistics acquisition in Houston—both reflecting continued capital flow into energy and logistics.

Power & Infrastructure: Venezuela reactivated the Tocoma hydroelectric plant to add 160 MW to the grid within 90 days, with U.S. technical and diplomatic support, while FUNVISIS says aftershocks after the June 24 earthquakes are still declining (with occasional peaks) and no major new damage has been reported. Oil & Gas Deals: The U.S. says it’s taking about half of Venezuela’s oil output, and multiple independent U.S. producers are set to sign new PDVSA production agreements in Houston, signaling a push to raise output as OFAC licenses keep expanding narrow pathways for energy activity. Sanctions & Compliance: A new Venezuela-related U.S. sanctions action targets an offshore entity in the British Virgin Islands, underscoring how fast rules are shifting for private-sector partners. Economy & Jobs: Venezuela’s GDP rose 7.14% in Q2 2026, driven mainly by hydrocarbons, and the government says 360,000 high school graduates will be guaranteed university placement. Agriculture: Cocoa producing communes in Sucre launched their first working meeting to organize production and link thousands of small and medium producers to proposals for Caracas. Culture & Talent: Marca País and youth orchestras plan to promote Venezuela’s cultural industry internationally, including airport visibility and live performances for travelers.

US Sanctions Watch: The U.S. Treasury imposed Venezuela-related sanctions on Bluwaves Properties Limited, a British Virgin Islands entity tied to Harry Sargeant III and holding a minority stake in North American Blue Energy Partners, Venezuela’s second-largest private oil producer. Energy & Gas Deals: ONGC said its Venezuela operations are cleared after a July 2026 OFAC go-ahead for its OVL unit, while framework talks on next steps are still ongoing. Offshore Expansion: BP and partners continue pushing Venezuela’s offshore gas push, including Loran Phase 2 licensing momentum, as XRG enters Venezuela to build a broader global gas platform. Humanitarian Response: WFP highlighted frontline staff support for quake-affected Venezuelans, with food assistance reaching over 300,000 people since the June earthquakes. Logistics Update: MSC is reshuffling Far East–Mexico container routes and extending its Sierra service via the Panama Canal to La Guaira and Puerto Cabello.

Energy Savings & Retail Power Management: Venezuela’s National Executive and the Chamber of Shopping Centers (CAVECECO) agreed to extend the sector’s energy savings plan for eight weeks, with Caracas added to rationing schedules for the first time (12:00-16:00 and 18:00-22:00) to stabilize the SEN through October, backed by self-generation efforts in malls. Earthquake Housing Delivery: Acting President Delcy Rodríguez delivered 48 new earthquake-resistant apartments in Caracas’ Tiuna City Housing Complex for 177 people, while the Venezuela Renace Plan targets thousands more home completions by December. Construction Workforce Inclusion: Rodríguez also announced a training and labor inclusion program for construction trades starting Aug. 24 via the Patria System, feeding reconstruction needs after the June 24 earthquakes. Mining & Legal/Finance Watch: Gold Reserve says it overcame a motion to dismiss in its Chancery Court dispute with Rusoro, allowing a core breach-of-contract claim to proceed, while its attorney José Ignacio Moreno Suárez was released from prison. Oil & Gas Deals: BP and XRG signed offshore exploration deals for Venezuela’s Loran Phase 2 (equal interests; BP to operate) and a Carupano East Block MoU, as cross-border gas development accelerates. Energy Politics: PSUV leader Diosdado Cabello says cryptocurrency mining is “totally banned” and reports a house-to-house electricity campaign reaching 335,000 homes.

OFAC Green Light for Oil Output: ONGC says a new U.S. OFAC licence lets it resume full Venezuela operations, expand investment, and consider taking operatorship from PDVSA—aiming to lift production and unlock more than $500m in pending dividends. U.S. Gulf Interest in Venezuelan Crude: A surge in Venezuelan exports to the U.S. (about 786,000 bpd in July, the highest since early 2019) is pulling fresh attention from refiners and logistics players as sanctions rules keep evolving. Loran Gas Deal Momentum: XRG (with ADNOC) enters Venezuela via the offshore Loran licence, joining bp and UCC, with the project backed by over 4 Tcf of proven gas resources and a push to connect gas to regional routes. Earthquake Risk for Industry Planning: New seismic warnings after Venezuela and Colombia quakes raise concerns for Peru’s central coast, adding pressure on engineering, construction standards, and disaster-ready supply chains. Telethon for Recovery: Cisneros’ Teleton Venevision 2026 “United for Venezuela” is set for Oct. 17 to fund earthquake response, with Venevision and United Way Venezuela coordinating fundraising and aid delivery.