AGP Executive Report

Electric Power Deal: Venezuela’s President (E) Delcy Rodríguez signed a strategic agreement with General Electric Vernova to modernize the National Electricity System, targeting +1,000 MW in 2026 and +4,000 MW over the next five years. Mining Crackdown: Caracas says a joint U.S.-Venezuela operation killed Tren de Aragua leader “Niño Guerrero” in Bolívar, amid intensified actions against illegal gold mining. Energy & Sanctions Fallout (Cuba link): UN officials warn U.S. sanctions on Cuba are driving child deaths and severe healthcare shortages, with Cuba citing fuel disruptions after Venezuela halted shipments. Agriculture Law: PSUV leader Diosdado Cabello backed approval of a cocoa promotion law, arguing Venezuela’s cocoa and coffee are world-leading and calling for stronger protection of producers. Market Watch: Oil traders reacted to the U.S.-Iran interim peace framework and Strait of Hormuz reopening hopes, pushing Brent and WTI lower and reshaping regional energy expectations. Local Planning (Caracas Bay): Curaçao’s tourist board began public consultation for major upgrades to the Caracas Bay Peninsula, keeping beach access guaranteed.

Oil & Gas Diplomacy: The US and Iran reached an interim peace framework that would reopen the Strait of Hormuz and lift the US naval blockade, with an official signing expected in Switzerland on Friday—an outcome already pushing Brent and WTI lower as the market prices out some war risk. Venezuela–Energy Supply: US Energy Secretary Chris Wright said US refiners can process more Venezuelan crude and that Venezuela’s share of exports to the US could rise, while PDVSA and Schlumberger also moved ahead with oil and gas digitalization plans. Mining & Security: Venezuela is stepping up organization in gold-rich mining areas in Bolívar, including plans for a Miner Services Office and a push for safer, more efficient, eco-friendly production. Cross-border Enforcement: A US-Venezuela operation reportedly killed Tren de Aragua leader “Niño Guerrero,” renewing debate over sovereignty and the growing use of joint kinetic actions. Infrastructure for Industry & Health: Caracas accelerated road access works around the Dr. Miguel Pérez Carreño General Hospital under a transport rehabilitation plan, aiming to improve logistics for healthcare operations. Regional Spill Fallout: Venezuela renewed its environmental complaint over a Trinidad and Tobago oil spill, while Heritage Petroleum defended its spill detection and response systems amid the dispute.

Transport & Health Infrastructure: Venezuela’s Ministry of Popular Power for Transportation is accelerating road rehabilitation around Caracas’ “Dr. Miguel Pérez Carreño” General Hospital under the “José Gregorio Hernández” plan, removing 2,000 m² of deteriorated pavement and rebuilding access areas to improve safe patient and staff access. Mining Villages & Security: In Bolívar’s Las Claritas, the Ecological Mining Development and Basic Industries minister Héctor Silva met miners and announced a Miner Services Office, pushing a model focused on higher output, safer and more eco-friendly mining, and stronger comprehensive security. Road Safety for Delivery Economy: A permanent Road Safety Technical Board was set up with delivery platforms (Yummy, PedidosYa, Ridery) and motorcycle manufacturers to cut motorcycle-linked crashes through a national prevention and education campaign. Oil & Gas Sector Modernization: SLB and PDVSA signed a long-term framework MoU aimed at revitalizing Venezuela’s oil and gas sector, including digital transformation and workforce training. US Refining Capacity for Venezuelan Crude: US Energy Secretary Chris Wright said US refiners can process more Venezuelan crude, noting Venezuela supplies about half of its exports to the US now and that share could rise. Mining Crackdown Context: Reports say a US-Venezuela operation targeted “Niño Guerrero” of Tren de Aragua in Venezuela’s gold-mining south, underscoring the security push around extractive regions.

Oil & Gas Dealmaking: SLB and PDVSA signed a long-term framework to modernize Venezuela’s oil and gas sector, with a big push on digital transformation and workforce training. Hydropower & Grid Stability: Venezuela and IMPSA moved Tocoma forward, targeting completion works that add 2,640 MW to the national grid. Energy Diplomacy: Venezuela granted Shell a natural gas permit and signed pacts tied to the Loran field, while Trinidad and Tobago faced fresh scrutiny after Venezuela alleged a new oil spill. Security & Mining: The U.S. and Venezuela said they carried out a joint operation that killed Tren de Aragua leader “Niño Guerrero” in Bolívar, amid wider pressure on illegal mining networks. Agriculture & Food Sovereignty: Portuguesa advanced the Winter 2026 sowing cycle with corn, rice, and sugar cane producers, framing it as a step toward agri-food sovereignty. Infrastructure & Industry Skills: UCV’s Faculty of Engineering delivered waterproofing for the Deanery roof, supporting administrative and teaching spaces. Forestry Governance: Venezuela installed the First Regional Forestry Meeting (Eastern Chapter) to strengthen legal, traceable forestry activity and export standards.

Energy Infrastructure: Venezuela and IMPSA moved ahead on the long-stalled Tocoma Hydroelectric project, with an agreement aimed at completing civil and engineering works and adding 2,640 MW to the national grid. Renewables & Industry Support: The government installed the First Regional Forestry Meeting (Eastern Chapter) to bring together producers, sawmills, and industrialists around legal, traceable forestry and an export-focused model. Construction & Engineering Works: UCV’s Faculty of Engineering received roof waterproofing for the Deanery building, including removal of deteriorated asphalt and reinforcement for 770 meters of structure. Security & Mining Sector Pressure: A U.S.-Venezuela joint operation killed Tren de Aragua leader “Niño Guerrero” in Bolívar, with analysts linking the push to broader access and crackdowns around the gold-rich mining region. Oil & Environment Dispute: Trinidad and Tobago is investigating a possible second oil spill after Venezuela alleged satellite-confirmed contamination; Heritage Petroleum says it found no large hydrocarbon evidence. Oil Market Demand: U.S. Energy Secretary Chris Wright said U.S. refiners can still absorb more Venezuelan crude as output rebounds, with exports expected to rise. Sanctions Fallout (Humanitarian): The UN says U.S. sanctions on Cuba are contributing to child deaths, citing medicine shortages—while Venezuela’s role as a former oil supplier is highlighted in the wider regional squeeze.

Cuba Sanctions Fallout: The UN human rights chief says U.S. economic sanctions are driving child deaths in Cuba, citing doubled infant mortality and worse cancer survival as medical supplies run short. Venezuela–Oil Link: The report ties the worsening crisis to Venezuela’s early-2026 halt of crude shipments under U.S. pressure, adding strain to Cuba’s already fragile power and fuel situation. Tren de Aragua Crackdown: Venezuela says Tren de Aragua leader Héctor Rusthenford Guerrero Flores (“Niño Guerrero”) was killed in a joint U.S.-Venezuela operation in Bolívar state, with the U.S. describing a “swift and lethal” strike coordinated with Caracas. Oil Market Pressure: Brent keeps sliding on expectations of a U.S.-Iran MoU that could lift oil sanctions and reopen Hormuz, while Goldman cuts its 2027 Brent forecast to $80/bbl. Energy Supply to the U.S.: U.S. Energy Secretary Chris Wright says Gulf Coast refiners can absorb more Venezuelan heavy crude as output rebounds, with exports expected to rise. Oil Spill Watch: Trinidad’s Heritage Petroleum says it found no evidence of a major hydrocarbon spill after Venezuela raised alarms.

Cocoa Push in Miranda: National Assembly President Jorge Rodríguez and Miranda Governor Elio Serrano toured the Barlovento cocoa belt and backed a new Law for the Promotion of Venezuelan Cocoa, aiming to boost productivity, protect quality, and raise producer income. Education for the Sector: Rodríguez also proposed creating a University of Cacao outside Caracas so students learn by planting, harvesting, fermenting, processing, and selling. One-Stop Agriculture: The law includes a single agricultural “box office” to speed procedures for cocoa producers where they operate. Government Restructuring: In La Guaira, Delcy Rodríguez’s restructuring and reengineering commission kicked off working groups on institutional reorganization, economy and investment, transparency, and efficiency. Gas Deal with Shell: Venezuela granted Shell a license to develop and export natural gas from the Loran field, including cross-border deposits with Trinidad, with PDVSA linking the project to Monagas processing facilities. Mining Crackdown: Venezuela launched a major operation in the Orinoco Mining Arc targeting illegal gold networks, leaving reports of abandoned mines and displaced residents. Oil Spill Tensions: Venezuela accused Trinidad and Tobago of a new spill, citing satellite imagery and warning of risks to ecosystems and fishing.

Shell Gas Deal: Venezuela’s acting president Delcy Rodríguez signed five agreements with Shell to kick off phase-one development of the cross-border Loran natural gas field, aiming to revive a project dormant for 23 years and move Venezuela toward gas exports. Energy Sanctions Watch: The U.S. revised OFAC general licenses for Venezuela’s oil and mining exports while keeping more than 1,000 coercive measures active, keeping the blockade pressure on. Cuba Humanitarian Fallout: A UN rights chief says U.S. sanctions are contributing to child deaths in Cuba, as infant mortality rises and cancer survival falls amid medical supply shortages. Oil Market Mood: Goldman cut its 2027 Brent forecast to $80/bbl, citing supply growth and demand risks, while traders weigh Middle East tensions and rates. Local Security: A Venezuelan national was arrested in Guyana for gun possession after police found a pistol, phones, and a knife at a Prospect Housing Scheme site.

Venezuela–Shell Gas Push: Venezuela signed Phase I agreements with Shell to develop the cross-border Loran natural gas field, aiming to revive a 23-year-stalled asset and position the country as a gas exporter, with work in Monagas and links to fuel supply for Puerto La Cruz. PDVSA Operations: PDVSA and Shell inspected Monagas gas facilities to expand gas management and reliability tied to Carito and Pirital fields supporting electricity generation. Hydrocarbons Legal Reset: Deputy Juan Romero said the National Assembly is adjusting Venezuela’s legal framework, including reforms to hydrocarbons and mines rules, targeting 3 million bpd by 2032 and calling for $110B in investment to rehabilitate wells and drill new ones. Transport & Infrastructure: Venezuela’s transport minister met the IILA secretary general to advance road, rail, and urban mobility modernization, with technical cooperation also touching agriculture and cocoa. Energy Diplomacy & Perception: Bloomberg reported Delcy Rodríguez leads a Latin America rebound in public image, tied to active energy management and international outreach. Cuba Sanctions Spillover: UN rights chief Volker Turk said US sanctions are harming Cuban children’s health, while the US also sanctioned Cuba’s Cupet, tightening pressure on the island’s energy sector. Oil Market Shockwatch: Amid US-Iran escalation and deal talk, Trump canceled strikes after claiming “final points” were approved, keeping Strait of Hormuz and global crude flows in focus.

Oil Tech & PDVSA Modernization: PDVSA signed a memorandum with Schlumberger to transfer advanced exploration, drilling and optimization technology, with a push for digital transformation and workforce training. Energy Workforce Training: PDVSA kicked off the first cohort of workers at the Simón Bolívar drilling school in Anzoátegui to update and accredit drilling competencies. Agriculture Lawmaking: National Assembly President Jorge Rodríguez handed over the Coffee Promotion Act in Portuguesa, aiming to protect producers, improve quality, and curb smuggling via certification and origin rules. Livestock Protection: Rodríguez also announced the upcoming first discussion of a reform to the Livestock Activity Protection law to strengthen agri-food security and punish crimes like cattle theft. Communal Production Model: Rodríguez urged communal production as the backbone of Venezuela’s new economic model, calling for tighter coordination between communal producers and public/private companies. Mining Crackdown: Venezuela deployed troops to target illegal gold mining groups in Bolivar’s Orinoco Mining Arc, including Las Claritas, amid reports of gunfire and drones. Logistics Link to Caracas: Avianca Cargo launched a weekly freighter route to Bolivia that also connects via Bogotá, with earlier freighter capacity including Caracas.

Venezuela Energy Week 2026: Caracas is set to host VEW 2026 as hydrocarbons and power reforms move from policy into execution, with PDVSA and international operators mapping practical investment routes like PDVSA joint ventures, crude-backed repayment structures, and production-linked agreements, plus early openings in generation and grid rehabilitation. Hydrocarbons talent pipeline: Venezuela’s Hydrocarbons Olympiad brought 2,000+ students from 11 states into the written phase, with 300 set to compete in Caracas in early July, aiming to feed future engineers and chemists into the sector. Global oil pressure hitting the region: OPEC output in May fell to the lowest in over two decades amid the Iran blockade and Strait of Hormuz disruptions, keeping energy markets tense. Cuba energy fallout tied to US policy: US officials and regulators are trading denials and warnings around fuel shipments to Cuba while Washington escalates pressure, including military messaging from Guantanamo. Market integrity rules spread: US regulators advanced new oversight for prediction markets, including stricter controls on high-risk trading—an issue that can ripple into how investors price political and energy-related outcomes.

Energy Policy & Grid Reform: Venezuela launched a national public consultation to reform the electrical law, aiming to optimize the grid and strengthen coordination between the Executive and the National Assembly. Energy Diplomacy: Acting President Delcy Rodríguez thanked Türkiye’s Erdogan for support and said both sides will convene a joint cooperation commission in November, covering energy, transport, mining, industry, electricity, science and technology, and trade. Oil Exports Under Scrutiny: A report says U.S.-controlled Venezuelan oil exports since January 3 reached an estimated ~$8B, with tanker tracking showing major flows to the U.S., India and Spain, but with limited public transparency on sales and use of revenues. Agriculture & Training: Lara inaugurated a nursery producing 12,000 plants quarterly, while Anzoátegui opened a Latin American drilling training and certification center with an interactive “intelligent gallery” for oil and gas education. Cocoa Sector Law: The National Assembly approved the first 18 articles of a Cocoa Bill to promote sustainable production and fairer income distribution across the marketing chain. Legal/Trade Ripple Effects: Crystallex warned of delay tactics in its Citgo sale appeal as Venezuela faces court process over representation issues.

Electricity Reform Watch: Venezuela kicked off a public consultation on the Partial Reform of the Organic Law on the Electrical System and Service, aiming to modernize the SEN and strengthen protection through new rules and joint ventures. Hydropower Contract Update: IMPSA is renegotiating a long-stalled hydroelectric deal with Corpoelec, targeting turbine and machinery addenda that could add up to 672 MW in Macagua if payments and delivery terms land soon. Nuclear Diplomacy: Venezuela reiterated at the IAEA that attacks or threats against peaceful nuclear facilities under safeguards violate international law, calling for condemnation without double standards. Inflation & FX Pressure: Venezuela’s monthly inflation hit its lowest since Oct 2024 (6.3% in May), but the official vs parallel exchange-rate gap still persists, keeping purchasing power under strain. Energy Trade Push: Delcy Rodríguez thanked Türkiye’s support after talks with Erdoğan, with agreements spanning energy, transport, mining, electricity, industry and trade, plus a joint commission planned for November. Oil Market Context: Fitch expects the Strait of Hormuz disruption to be temporary, projecting lower 2026 prices and a possible oversupply rebound once shipping normalizes.

Agriculture Innovation in Zulia: Venezuelan scientists at INZIT are developing controlled-release nanofertilizers using copper oxide nanoparticles in a chitosan matrix to cut nutrient loss from leaching and reduce how often crops need fertilizing. Energy & Trade Diplomacy: Acting President Delcy Rodríguez met Turkey’s President Recep Tayyip Erdoğan in Istanbul, pushing expanded cooperation in trade, energy, mining, transport, air connectivity, science and industry, with bilateral commerce targeted to rise from $448M to $3B and a V Joint Cooperation Commission planned for next November. Venezuela–India Oil Push: Rodríguez’s India tour focused on deepening long-term energy ties and expanding crude exports, with Indian officials signaling interest in new opportunities and technical teams to explore Venezuela’s sector. Regional Oil-Shipping Pressure: A US interception of a sanctioned tanker south of Sri Lanka highlights intensifying enforcement against Iran-linked oil networks and the wider “shadow fleet” challenge affecting Venezuela-linked shipping routes. Electricity & Industry Context: Venezuela’s broader push to diversify beyond oil is echoed in the Turkey and India talks, while global energy volatility keeps supply chains and investment decisions tightly linked to production and infrastructure.

Turkey-Venezuela Energy Push: Acting President Delcy Rodríguez met Erdogan in Istanbul to deepen cooperation on trade, energy, and mining, with both sides targeting a jump in bilateral trade from $448M (2025) to $3B. Electricity Policy Debate: PSUV’s Diosdado Cabello said easing electricity-system laws for a mixed structure would let industry and commerce generate their own power, aiming to relieve the SEN without harming communities. Oil Market Context: Commentary warns of a potential global oil flood if the Strait of Hormuz reopens, while analysts note China’s reduced imports have helped steady prices but may not last. U.S. Forced-Labor Tariffs: USTR proposed Section 301 tariffs (10%–12.5%) tied to forced-labor import rules across 60 economies, with comments due July 6. Venezuela Exports Snapshot: Venezuelan coffee, tea, and spices led non-oil exports to the U.S. in early 2026, totaling $19.52M.

Venezuela–Turkey Energy Diplomacy: Acting President Delcy Rodríguez arrived in Istanbul for a surprise visit and is set to meet Turkish President Recep Tayyip Erdoğan, underscoring renewed cooperation in energy, defense, tourism, and agriculture. Oil Market Shockwatch: Analysts warn that reopening the Strait of Hormuz could rapidly reshape global supply, with expectations ranging from weeks to months for full restart—an issue that matters for Venezuela’s oil substitution narrative. Caribbean Energy Strain Spillover: Reports highlight how prolonged outages and fuel shortages are fueling unrest in Cuba, a reminder of how regional power and fuel disruptions can spill into trade and investment decisions. Aquaculture Push in Nueva Esparta: Venezuela’s fisheries chief promoted seaweed aquaculture as a diversification engine, citing seaweed exports of 270 tons and links to cosmetics, food, and biofertilizers. Aviation Compliance Concern: CONVIASA said a Cancun–Maiquetia flight diversion to Jamaica involved procedural and support irregularities, leaving passengers waiting over eight hours. Sovereignty vs ICJ: Venezuela reiterated serious doubts about the ICJ process over Essequibo after Guyana’s statements, stressing it won’t recognize any ruling.