Venezuela's Opposition Leader Pitches Oil Reforms at CERAWeek

María Corina Machado addresses industry leaders with vision for democracy and market-based economy.

Apr. 12, 2026 at 10:57am

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A serene, photorealistic painting of a solitary oil pump jack standing in a vast, sun-drenched Venezuelan landscape, with warm, diagonal sunlight casting deep shadows across the scene, capturing the quiet tension and uncertainty surrounding the country's energy sector.Venezuela's oil industry stands at a crossroads, as the country's political future hangs in the balance.Houston Today

In a pivotal moment, Venezuela's opposition leader María Corina Machado, a Nobel Peace Prize laureate, took the stage at the S&P Global's CERAWeek conference in Houston to pitch her vision for the country's oil industry and democratic transition. Machado's presence at the event, attended by major oil executives, underscores the deep connection between Venezuela's political and economic future.

Why it matters

Venezuela's vast oil reserves have long been a point of contention, with political instability deterring investment from major energy companies. Machado's address represents a critical juncture, as she seeks to convince industry leaders that political reforms and market-based policies can provide the stability needed to unlock the country's economic potential.

The details

Despite pressure from the Trump administration, major oil companies like ConocoPhillips and Exxon Mobil have remained cautious about investing in Venezuela, citing the need for political reforms and protection of private investments. Machado's speech aims to address these concerns and outline her plan for a transition to a more democratic, market-oriented economy.

  • Machado's address took place at the S&P Global's CERAWeek conference in Houston on April 12, 2026.
  • The conference comes just months after the capture of former President Nicolás Maduro, a pivotal moment in Venezuela's political landscape.

The players

María Corina Machado

Venezuela's opposition leader and Nobel Peace Prize laureate, who is advocating for political and economic reforms in the country.

Ryan Lance

CEO of ConocoPhillips, who highlighted the need for policy durability and long-term planning to attract investment in Venezuela's oil industry.

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What they’re saying

“We demand political reforms and protection for private investments, a reminder that economic decisions are deeply intertwined with political stability.”

— Ryan Lance, CEO, ConocoPhillips

What’s next

The success of Machado's pitch to oil industry leaders will be a key factor in determining Venezuela's ability to attract the necessary investment to revive its oil sector and transition to a more stable, market-based economy.

The takeaway

Machado's address at CERAWeek represents a critical juncture in Venezuela's political and economic future. Her ability to convince industry leaders that the country can provide the necessary stability and guarantees for investment will be crucial in unlocking the potential of Venezuela's vast oil resources and paving the way for a democratic transition.