For decades, Venezuela has struggled to appropriately maintain production, redistribute profits and sustain investment in its nationalized oil industry to support its sagging economy.
Compounded by recent political instability, corruption, US sanctions and the increased flow of human capital out of the country, Venezuela’s energy sector continues to spiral downward. But to what extent can Venezuela’s energy crisis be attributed to domestic politics, national mismanagement and a lack of investment and infrastructure?
How can the international community support the renewal of energy production in Venezuela especially with an eye toward lowering the country’s carbon footprint?
Why did the Venezuelan oil industry collapse and how can it be recovered?
How are trends in the Latin American energy sector, from the emergence of new players to the rise of renewables, impacting Venezuela’s oil industry?
And with global crude prices in fluctuation due partly to the COVID-19 outbreak, how will Venezuela’s oil industry fare against global trends?