Davos 2026: Renewed Attention on Venezuela’s Energy Sector
U.S. President Donald Trump speaks during the World Economic Forum (WEF) annual meeting in Davos on January 21, 2026. (Fabrice Coffrini/AFP)
By Elio Ohep, EnergiesNet
PHOENIX
Energiesnet.com 01 24/2026
The global energy agenda at this year’s World Economic Forum placed renewed attention on Venezuela, a country long absent from international planning but still central to discussions on supply security and long‑term transition strategies. In several private roundtables and sector‑focused sessions, participants examined whether conditions might eventually allow the country to rejoin the global energy system.
Despite holding the world’s largest oil reserves, Venezuela’s operational capacity remains severely reduced. According to sources consulted by EnergiesNet, the central question in Davos was not the scale of the country’s resources, but whether political and institutional stability could ever align to support responsible development.
An energy adviser with direct knowledge of the discussions in Davos, who requested anonymity due to the sensitivity of the topic, told EnergiesNet that the tone of international conversations has shifted toward a more pragmatic assessment of what would be required for Venezuela to recover. She noted that “Venezuela’s relevance today lies not only in what it holds, but in how thoughtfully its resources can be developed over time,” adding that “the future of energy depends on balance — between resources, innovation, and long‑term responsibility.”
Her remarks aligned with broader concerns raised at the Forum. Fatih Birol, executive director of the International Energy Agency, stated during a public session that “global energy security remains fragile, and any country with significant reserves will inevitably return to the conversation.” His comment was widely interpreted as a reminder that Venezuela’s potential continues to matter, even amid its institutional challenges.
Across the various discussions, participants pointed to a shared understanding. Venezuela’s reserves remain strategically significant for global supply security, yet any recovery of the sector would require credible institutions and clear rules capable of attracting investment. The country’s natural gas, mineral resources, and biodiversity broaden the scope of potential development beyond oil, while the Venezuelan technical diaspora—now dispersed across global companies—is widely regarded as a key asset for any future rebuilding effort.
Mark Carney, speaking on a panel about long‑term transition frameworks, emphasized that “no energy system can be resilient without predictable governance.” Although he did not refer to Venezuela directly, his statement echoed the conditions repeatedly mentioned in private discussions about the country’s future.
Reuters, in its coverage of the Forum, noted that several energy executives warned that “markets will remain vulnerable as long as political uncertainties persist in countries with large reserves.” While the report did not single out Venezuela, the observation reinforced the view that institutional credibility is essential for any producer seeking to reenter the global energy system.
Although no formal announcements emerged from Davos, the presence of Venezuela in multiple conversations reflected a renewed interest in understanding what conditions might allow the country to reestablish itself within the international energy landscape.
The prevailing view in Davos was cautious but consistent. Venezuela could play a meaningful role in regional and global energy security, but only if it establishes a credible institutional framework capable of supporting long‑term development. As the adviser noted in conversations with EnergiesNet, “Venezuela’s beauty is not only something to admire — it’s something to build from.”
Sources: News Agencies
Elio Ohep, editor@petroleumworld.com
EnergiesNet.com 01 24 2026
