The United Arab Emirates’ state oil company, the Abu Dhabi National Oil Company (Adnoc), is considering a significant investment in Venezuela’s natural gas industry, according to industry reports.
People familiar with the matter cited by Reuters said Adnoc was in early and preliminary discussions about potential participation in Venezuelan gas projects through its international investment unit, XRG, which Adnoc established to expand its global energy footprint.
The talks are aimed at using financial resources from Abu Dhabi to support what would potentially be billions of dollars in investment needed to develop Venezuela’s gas production infrastructure.
Venezuela is estimated to hold the largest proven crude oil reserves in the world, as well as more than two-thirds of South America’s natural gas reserves.
The resources, though, have been underutilized amid infrastructure limitations and years of under-investment brought about by United States sanctions.
Capturing and commercializing the country’s natural gas, which is currently often lost through flaring during oil production, could be economically significant, but, observers say, requires large infrastructure projects to make up for the damage brought about by the American coercive measures.
The potential move by Adnoc comes as the largest US energy companies have so far resisted pressure to return to Venezuela’s energy sector.
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US President Donald Trump has called for major US investment to revive Venezuela’s oil industry after American forces kidnapped President Nicolas Maduro and his wife earlier this month on and subsequently proposed a $100-billion scheme to rebuild the country’s energy production.
However, those efforts have not resulted in commitments from major US energy firms.
Adnoc’s international arm, XRG, has been involved in energy investment discussions beyond Venezuela, including natural gas project talks in Argentina and deals in the USA, Africa, and Central Asia.
The company and its representatives have not publicly commented on the Venezuela talks, and industry observers note that any such investment would require navigating complex legal, financial, and geopolitical conditions.
Analysts also say clear investment frameworks and protections are typically prerequisites for international energy companies considering major projects in Venezuela’s vast but challenging energy sector.
PressTV / ABC Flash Point News 2026.
Multi arab passport holder Epstein must have gathered kompromat on mbz and co. How tiny 8 khalasjee emirates are carrying out adventures in faraway Sudan, socotra, Yemen and now Venezuela, all in the interests of USrael is very puzzling. Or are a lot of these sheikhs actually sisis?
China could easily get other countries to be the front to an investment in Venezuela’s oil and gas and then take ownership once it is up and running and sell the resources in whatever currency they want to.
The US empire is in its final days.
US companies are worried about the legal implications of spending billions in a country where the contracts are questionable and not insurable.
US companies also can’t put their employees in a situation where they are likely to be in danger which would be the case of having them work in Venezuela when the people know the contracts singed were forced on their government.
UAE – they have experience with investing in gas, are they going to sell the oil in US dollars? This is the big question.