Venezuela oil industry reforms amid seizure of US tanker
CARACAS: Acting Venezuelan President Delcy Rodriguez on Thursday urged the National Assembly to approve a sweeping oil industry reform aimed at attracting foreign investment and supporting the nation’s economic recovery, amid growing U.S. enforcement actions against Venezuelan oil shipments.
In her annual report to the legislature, Rodríguez said the proposed reforms would optimize Venezuela’s oil sector operations and bolster the country’s capacity for international cooperation. She highlighted that Venezuela’s oil production reached 1.2 million barrels per day in December 2025. Revenue from exports, she said, will primarily support public health infrastructure, economic development, and critical national projects.
“Venezuela is currently at an important turning point,” Rodríguez stated. “The government will explore more pragmatic and diversified foreign exchange channels while maintaining relations with all countries, including the United States, on a basis of mutual respect.”
U.S. Seizes Sixth Venezuela-Linked Tanker
The call for reform came the same day the U.S. Southern Command reported the seizure of another Venezuela-linked oil tanker, marking the sixth such action in recent weeks. According to the command, Marines and sailors from Joint Task Force Southern Spear, operating from the aircraft carrier USS Gerald R. Ford, boarded the Motor/Tanker Veronica in a pre-dawn operation and took control without incident.
“The only oil leaving Venezuela will be oil that is coordinated properly and lawfully,” the U.S. command emphasized. Analysts say the Trump administration is continuing a crackdown on sanctioned vessels operating in the Caribbean, significantly disrupting Venezuela’s oil exports.
Data from shipping analytics provider Kpler shows that crude loadings have dropped to about half of normal levels this month. Only tankers heading to the United States or transporting oil to domestic refineries are currently active at Venezuelan ports.
Last week, U.S. Energy Secretary Chris Wright confirmed that the United States will not only market stored Venezuelan oil but also exercise indefinite control over the country’s oil sales.
