AGP Executive Report

Venezuela Mining Crackdown: Venezuela deployed troops to target illegal armed groups running key gold deposits in Bolivar’s Orinoco Mining Arc, including Las Claritas, after residents reported explosions and gunfire and NGOs warned of abuses. Oil Tech & Modernization: SLB signed a long-term framework with PDVSA to modernize Venezuela’s oil and gas sector, with a strong push on digital transformation, AI-enabled workflows, and workforce training. Energy Investment Push: Venezuela’s acting leadership continued courting international partners on energy and production agreements during high-level travel and meetings, including with major industrial groups in India and broader Eurasian engagement. Coffee Exports: Lara state reported another green coffee shipment to Italy from Barquisimeto’s dry port, with additional exports planned to Russia and other destinations. Trade & Connectivity: Avianca Cargo launched a freighter route to Bolivia that also links via Caracas, while Venezuela’s broader push for investment and logistics continues alongside new cooperation efforts. Regional Context: OPEC output fell to the lowest since 2000 amid Iran war disruptions and U.S. blockade pressures, a backdrop that keeps oil-market volatility front and center for Venezuela’s economy.

Venezuela Energy Week 2026: Caracas is set to host Venezuela Energy Week 2026, spotlighting new investment pathways across oil, gas and power as reforms move into implementation. Venezuela Inflation & FX: Venezuela’s monthly inflation reportedly hit a new low (6.3% in May), while the exchange-rate gap remains a key pressure point for businesses and households. US–Venezuela Oil Trade: Reports say the U.S. is selling Venezuelan oil worth billions, but the destination and end-use remain unclear—raising questions for trade flows and compliance. Venezuela–India Energy Push: Acting President Delcy Rodríguez’s India trip and meetings with industrial and energy players are framed around deeper oil and energy partnerships, including reconstruction support and expanded commercial ties. Local Governance/Branding: Analysts say Venezuela’s interim government is quietly erasing parts of Nicolás Maduro’s public image across institutions, including in financial and government spaces. Sports Betting Rules (Kalshi/CFTC): U.S. regulators are tightening prediction-market oversight, with Kalshi requiring employment disclosures in higher-risk markets—an integrity move that could ripple across platforms that also attract Venezuela-related headlines. Cuba Fuel Deal (regional spillover): A Florida company is reportedly negotiating what could be the largest U.S. fuel shipment to Cuba in decades, underscoring how energy disruptions across the region keep reshaping business risk. US–Iran escalation (energy risk): Fresh U.S. strikes on Iran and tanker actions near the Strait of Hormuz are keeping energy volatility front and center for regional trade and pricing.

Venezuela–Turkey Energy & Trade: Acting President Delcy Rodríguez thanked Türkiye’s President Recep Tayyip Erdoğan for “friendship” after talks in Istanbul covering energy, transportation, mining, air connectivity, science/tech, industry, electricity and trade, with a joint cooperation commission planned for November. Electricity Reform Consultation: Venezuela launched a national public consultation to reform the Organic Law on the Electrical System, aiming to optimize the grid and improve distribution efficiency, with the National Assembly and Executive coordinating the update. Telecom Expansion in Bolívar: CANTV added 850+ subscribers in Puerto Ordaz (Bolívar) to Aba Ultra, Aba TV GO and IP Telephony, bringing Aba Ultra/GPON users in the entity to 9,590, plus an Ultra Zone inaugurated in Villa Brasil. Cocoa Bill Advances: The National Assembly approved the first 18 articles of a Cocoa Promotion bill focused on sustainable production with agroecological criteria, national value-add and a more equitable income distribution for small producers. Marca País Media Push: Instituto Marca País met private media to align a public-private communications strategy to “tell the world” about a productive, growing Venezuela, with major broadcasters and newspapers pledging support. US-Controlled Venezuelan Oil Opacity: A report says that in the first four months of US control over Venezuela’s oil exports, nearly 100 million barrels worth about $8B moved with limited transparency, with major destinations including the US, India and Spain.

Electricity Reform: Venezuela’s National Assembly has opened a public consultation on the Partial Reform of the Organic Law on the Electrical System and Service, aiming to modernize the SEN, strengthen protection, and bring in joint ventures to upgrade infrastructure. Hydropower Contract Talks: IMPSA says it’s renegotiating a long-stalled hydroelectric deal with Corpoelec, targeting addenda for turbine delivery and installation at Macagua that could add up to 672 MW if payments and delivery align. Inflation & FX Pressure: Venezuela logged 6.3% May inflation (lowest month-to-month since Oct 2024), but the official vs parallel exchange-rate gap still persists, keeping purchasing power under strain. Oil Exports Update: A Venezuelan oil recovery narrative is gaining traction as crude exports reportedly reached 1.25 million bpd, the highest in seven years, with the shift tied to changing sector management and geopolitics. Trade & Science Links: Venezuela and India advanced cooperation on science and innovation, while Venezuela’s acting leadership also pushed energy and trade ties during its India outreach. Sanctions & Regional Risk: U.S. sanctions on Cuba’s leadership were called a “pretext” for intervention by Cuba’s top diplomat, underscoring how regional policy shocks can spill into migration and business planning.

Venezuela Inflation Watch: A financial analyst says Venezuela’s inflation trend is easing, with May at 6.3% (lowest in 19 months), though the rate remains high and is still tied to exchange-rate swings. Venezuela–India Energy Push: Acting President Delcy Rodríguez wrapped a high-profile India tour, meeting PM Modi, ministers and business groups to deepen long-term energy cooperation and expand crude exports as global supply uncertainty reshapes trade. Venezuela–Türkiye Trade & Mining: Rodríguez also announced the V Joint Cooperation Commission with Türkiye for next November, highlighting plans to expand cooperation in energy, transport, mining, air connectivity, science/tech, industry, electricity and trade. Local Skills & Industry Training: INCES and the National Chamber of Mechanical Workshops (CANATAME) renewed an agreement framework for technical training, including certified spare parts and automotive lubrication, with pilot curricular-updating centers planned for the sector. Caracas Cultural Diplomacy: Venezuela marked Russian Language Day in Caracas with a wreath at Pushkin’s monument, underscoring “brotherhood” ties with Russia beyond economics. Legal/Market Ripple: A U.S. judge set a December trial date in an insider-trading case involving alleged prediction-market profits tied to the January capture of Nicolás Maduro, keeping Venezuela-linked financial scrutiny in focus.

Turkey-Venezuela Trade Push: Acting President Delcy Rodríguez met Recep Tayyip Erdoğan in Istanbul to deepen cooperation on trade, energy, mining, investment, and logistics, with both sides targeting a jump in bilateral trade from $448M (2025) to $3B. Electricity Policy Debate: PSUV leader Diosdado Cabello said proposed changes to Venezuela’s electricity system aim to give industry and commerce more room to manage their own consumption, claiming it won’t harm the national grid and citing MW gains in Carabobo/Falcón plus more expected by August. Export Snapshot: Venezuela’s non-oil exports to the U.S. reached $65M in Q1 2026, led by coffee, tea, and spices at $19.52M, with other categories including chemicals and cocoa preparations. U.S.-Linked Legal Risk: A U.S. judge set a tentative Dec. 7 trial date for a soldier accused of using classified info tied to the Maduro raid to profit on Polymarket. Sanctions Pressure Spillover: UN human rights chief Volker Türk urged the U.S. to lift Cuba sanctions immediately, citing reports of worsening conditions—an issue that also keeps Venezuela’s regional energy and trade pressures in focus.

Venezuela-India Dealmaking: Acting President Delcy Rodríguez wrapped high-level meetings in Türkiye and India, pushing cooperation on energy, transport, clean power and technology transfer with Indian industrial leaders in Mumbai and continued diplomacy abroad. Essequibo Legal Fight: Venezuela’s foreign ministry said it has “well-founded doubts” about the ICJ process after Guyana signaled it expects the court to uphold the 1899 arbitral award, reiterating Venezuela won’t recognize any ICJ outcome. Energy & Trade Push: Venezuela’s outreach also included expanding bilateral trade and industrial ties with Russia at the St. Petersburg forum, alongside ongoing talks to deepen long-term energy partnerships. Productive Economy Spotlight: In Nueva Esparta, the fisheries minister highlighted seaweed aquaculture as a diversification engine, citing 270 tons exported and new downstream uses from cosmetics to biofertilizers. Regional Energy Signals: U.S. data showed Iraq’s crude imports rebounded to ~43,000 bpd after a prior halt, while Venezuela remained a key supplier at ~568,000 bpd. Cuba Pressure Spillover: Coverage of Cuba’s fuel and power crisis tied to U.S. pressure underscored how regional energy constraints can quickly hit business continuity and investment sentiment.

Oil & Trade Flows: US EIA data show Iraq resumed crude exports to the US at 43,000 bpd last week, while Venezuela remained a key supplier at 568,000 bpd—highlighting how Caracas stays in the mix even as global supply risks persist. Sovereignty & Legal Risk: Venezuela says it has “well-founded doubts” about the ICJ process over the Esequibo dispute with Guyana, rejecting Guyana’s stance and insisting the matter should be handled under the Geneva Agreement. Public Services & Connectivity: CANTV restored fixed phone and Internet service to 38,902 subscribers in May, citing repairs after theft, vandalism, weather damage and network deterioration, with the capital region taking the largest share of resolved cases. Diplomacy & Human Capital: Acting President Delcy Rodríguez wrapped part of her India agenda with a visit to the Sri Sathya Sai Institute, signaling interest in education cooperation and professional training links. Energy Geopolitics (Context): Commentary argues Venezuela’s heavy-crude reserves could substitute for Persian Gulf supply, but stresses the gap between resource potential and export capacity.

Venezuela-India Energy Push: Acting President Delcy Rodríguez is in India to deepen long-term energy cooperation, including talks with Essar in Mumbai on adding wind, solar and biomass to diversify Venezuela’s electricity mix and strengthen the SEN. Inflation Watch: Venezuela’s Central Bank reported May inflation at 6.3%, the lowest in 19 months, citing exchange-rate stability and tighter monetary expansion. Tourism for Investment: Tourism Minister Daniella Cabello promoted Venezuela’s tourism offer to Russia’s Eurasian market at the St. Petersburg Forum, pitching new alliances and investment in tourism infrastructure. Caracas Security Narrative: A Caracas mausoleum was inaugurated honoring 32 Cuban soldiers killed in a January 3 U.S. operation tied to the capture of Nicolás Maduro, underscoring ongoing Venezuela-Cuba geopolitical messaging. Local Economy Oddity: A profile highlights how “debt collection” in Venezuela has evolved into public pressure tactics amid weak rule of law, reflecting broader business friction.

Inflation Watch: Venezuela’s Central Bank says May inflation hit 6.3%, the lowest in 19 months, signaling a slowdown phase tied to tighter monetary expansion, exchange-rate stability, and support for domestic production. Energy Diplomacy (India): Acting President Delcy Rodríguez keeps pushing energy deals in India—meeting Essar in Mumbai on renewables (wind, solar, biomass) to diversify Venezuela’s power matrix, touring the Jamnagar refinery for technology transfer, and visiting Tata to promote renewable investment and cleaner transport projects. Oil & Trade Links: Reports say India is again buying more Venezuelan crude as restrictions ease, while both sides discuss longer-term supply arrangements and deeper participation by Indian firms in Venezuela’s oil and gas sector. Sovereignty & Environment: Venezuela marked World Environment Day by restoring nature rights and returning 400 rescued Tejado canary birds seized in Brazil, underscoring enforcement against wildlife trafficking. Regional Context: A U.S. move to dismiss a lawsuit tied to a boat strike that killed men traveling from Venezuela to Trinidad highlights ongoing legal and security tensions around maritime operations.

India-Venezuela Energy Push: Venezuelan Acting President Delcy Rodríguez arrived in Mumbai after touring Reliance’s Jamnagar refinery, meeting PM Modi and energy officials, and inviting Indian oil firms to expand in Venezuela as crude supply ties deepen. IMF Engagement: The IMF shared details of a May 30 meeting with Venezuela’s delegation, discussing support for macro stability and a path toward an Article IV consultation as Caracas seeks to normalize relations with multilateral lenders. Venezuela-Russia Trade Plan: Caracas and Moscow advanced a long-term development roadmap through SPIEF 2026, targeting $400M in bilateral trade by decade’s end across 65 measures in 20 sectors. Telecom & Transport Updates: CANTV is extending fiber optic services in Barinas for 1,000+ users, while Caracas Metro confirmed recovery work after a Propatria derailment with no injuries and no major system disruption. Currency Reality Check: A new analysis highlights how people increasingly turn to the dollar as local currencies lose purchasing power and trust.

Energy Diplomacy: Acting President Delcy Rodríguez arrived in Mumbai and toured Reliance’s Jamnagar refinery, signaling Venezuela’s push to deepen oil and gas ties with India as crude trade grows amid global supply strain. Bilateral Talks: Rodríguez met India’s oil minister Hardeep Singh Puri and also held a courtesy meeting with the U.S. ambassador to India, Sergio Gor, to review progress on the bilateral agenda and cooperation channels. Investment & Policy: Venezuela’s acting leadership is also moving to attract capital, including revising oil contract terms to entice wary investors, while broader reform chatter continues around opening parts of the electricity sector to private participation. Telecom Expansion: CANTV advanced fiber optic deployment in Barinas, with plans to connect 1,000+ users in El Cambio (Aba Ultra, Aba TV GO, and IP Telephony). Urban Transport Update: Caracas Metro confirmed recovery maneuvers after a derailment in the Propatria yard, saying the wagon was out of service and no injuries were reported. Culture & Tourism Skills: CENAL launched a reading-and-art workshop for 250 students in Caracas/Miranda, while Venezuela’s tourism ministry wrapped a management seminar in China to boost planning and promotion capacity.

India–Venezuela Energy Push: Acting President Delcy Rodríguez met India’s PM Narendra Modi and Petroleum Minister Hardeep Singh Puri in New Delhi, with both sides stressing “perfect complementarity” across the oil value chain and discussing deeper cooperation beyond crude, including critical minerals and investment; Puri said an Indian technical team will visit Venezuela soon to explore new opportunities as India boosts Venezuelan crude purchases amid West Asia supply strain. IMF Steps In: The IMF appointed Alvaro Piris Chavarri as Venezuela’s new mission chief, as Caracas moves ahead with external debt restructuring after years of default, signaling renewed engagement toward regular economic surveillance. Food & Nutrition Systems: Venezuela shared nutrition and food-statistics experience with FAO in Rome, including work to integrate diet-quality measurement into national systems to better target vulnerable groups. Agriculture & Health Programs: Venezuela extended its foot-and-mouth vaccination cycle to June 30 to support international disease-free certification efforts. Cuba Sanctions Spillover: US sanctions on Cuba’s leadership and family intensified a broader regional energy and humanitarian squeeze, with reports of prolonged blackouts and shortages—an indirect pressure point for Venezuela-linked trade and energy flows.

Electricity Reform: Venezuela’s National Assembly preliminarily approved a reform to open the national electricity system to private and mixed players, ending the long state monopoly and setting up up to 25-year concessions. India-Venezuela Energy Push: Acting President Delcy Rodríguez met PM Narendra Modi in New Delhi, with energy security and trade taking center stage as India ramps up Venezuelan crude imports amid Middle East supply worries. Oil Finance & Investor Interest: JPMorgan and Jefferies are lining up trips to Caracas as investors seek a firsthand look at Venezuela’s oil revival and debt restructuring plans. Telecom Restoration: CANTV restored fixed telephone and Internet service for 1,000+ subscribers in Guárico through corrective maintenance and on-the-ground checks. Tourism & Food Branding: Táchira’s tourism minister inspected Lobatera Pools to boost sustainable visitor flows, while Venezuela was nominated for South America’s Leading Culinary Destination at the World Travel Awards. Mining Risk: Reports highlight “blood gold” concerns as gangs and guerrillas control parts of Venezuela’s mining zones, complicating the push for private capital.

India–Venezuela Energy Push: Acting President Delcy Rodríguez’s New Delhi visit is centered on energy security and trade, with Modi talks highlighting Venezuela as a growing crude supplier as India diversifies imports amid West Asia disruptions. Diplomatic Follow-Through: External Affairs Minister S. Jaishankar met Rodríguez ahead of the Modi meeting, signaling cooperation across energy, investment, healthcare, transport and renewables. Oil Supply Context: Reports say India has ramped up Venezuelan crude purchases recently, and officials framed the partnership as long-term “complementarity” for upstream and downstream energy. US–Venezuela Security Framework: The top US military chief, Gen. Dan Caine, made a first official trip to Caracas, discussing regional stability and Washington’s three-phase plan for Venezuela—stabilization, recovery and political transition. Elections Roadmap: US officials reiterated a staged transition approach before elections, tying any vote to rebuilding political and institutional conditions. Regional Business Ripple: Separate coverage notes South America’s rising role in global crude supply as Middle East shipping disruptions reshape trade flows.

India-Venezuela Energy Push: Acting President Delcy Rodríguez arrived in India for a five-day visit aimed at deepening ties, with energy security and trade investment at the top of the agenda as New Delhi diversifies crude supplies amid the Iran-linked supply squeeze. Caracas Transit Upgrade: The Caracas Metro starts a two-month waterproofing and corrective maintenance phase on Line 3 (tunnel issues tied to groundwater), working mainly at night to limit service disruption. Coffee Sector Rules: Venezuela’s National Assembly deputy Wilmar Castro said the Coffee Law sets a full value-chain framework (planting to export), adds origin/quality certification, and is designed to unblock procedures that have held back international sales. Justice Reform at the UN: Venezuela reported to the UN in Vienna on a national consultation to reform the criminal justice system, prioritizing faster procedures and court integrity. Cultural Distribution Deal: Amazonia Films signed to distribute the documentary “Guiomar Narváez in Sustained Love,” expanding screenings across Venezuela. Cuba Spillover for Regional Business: Foreign hotel operators are pulling back in Cuba and card payments are set to pause after a processor exit tied to US sanctions—another warning sign for tourism-linked economies.