Shell’s CEO, Wael Sawan, confirmed that the British oil company is evaluating possible multi-million dollar investments in Venezuelan gas fields. Venezuelan gas fields offshore, as part of a regional strategy that includes exports through Trinidad and Tobago.
The announcement comes in the context of the easing of sanctions by the United States, which has opened new opportunities for energy companies seeking to diversify their production. Shell, which already has an operational presence in Trinidad, plans to use this Caribbean nation as a logistics point to process and export the gas extracted in Venezuelan waters.
Venezuelan gas production and shared licenses
One of the highlights is the possibility of activating the projects in question in a matter of months, according to Sawan. This acceleration depends on the approval of regulatory licenses, both local and international. Shell and BP have applied for permits in the United States to operate in gas fields shared between Venezuela and Trinidad. gas fields shared between Venezuela and Trinidad.
Although the structure and final terms of the investment are not finalized, the declared interest represents one of the strongest signals to date of a shift in Shell’s stance towards the South American country.
Financial pressures drive the strategy
The focus on Venezuela also responds to internal pressures. In its latest quarterly report, Shell reported its lowest earnings in five years, falling to $3.3 billion in the fourth quarter of 2025. While the company increased the dividend and maintained a share buyback program, rising net debt and weakness in segments such as chemicals affect its margin for new investments.
This obliges the company to prioritize projects with clear regulatory viability and short-term financial return, conditions that could be met in the Venezuelan case if authorizations proceed as planned.
Corporate outlook and caution
Shell has avoided confirming whether a decision has been made. The statements of its CEO underline that it is a strategic consideration at an early stage, not a formal commitment. However, the mere fact that one of the world’s leading oil companies is making a public statement about projects in Venezuela marks an important change of tone.
Interest in Venezuelan natural gas, coupled with synergies with Trinidad and Tobago’s infrastructure, could turn the region into a new energy export hub if political and legal conditions permit.
Source: Oil Price
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