EP 024: Unlocking Venezuela: Governance, Production Potential, and the Global Oil Balance
Doug Garber sits down with Paul Sankey (Sankey Research) and Xavier Smith (AlphaSense) to break down what it would actually take to “unlock Venezuela” — and why the biggest oil-market impact may be second-order (US capex behavior), not an overnight flood of barrels.
Despite the headline excitement around a post-Maduro reset and a new hydrocarbons law, Sankey argues Venezuela remains a long-road “investability” story: rule of law, arbitration, security, and legacy claims (Exxon/Conoco) still dominate the timeline. Near-term gains are most credible through Chevron’s existing footprint, with…
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