Venezuela's Rodriguez appoints Paula Henao as oil minister

2026-03-12 06:16:30 ET

• Venezuela’s acting president, Delcy Rodríguez, has appointed a new hydrocarbons minister as the U.S. steers the country’s oil sector recovery under a new energy law following the ouster of Nicolás Maduro .
• Rodríguez, writing in a post on her Telegram account, named oil engineer Paula Henao to replace her as head of the ministry. Rodríguez managed the oil ministry for less than two years alongside the vice presidency before becoming interim president in January.
• The changes are aimed at boosting oil and gas production and ?foreign investment following a $100 billion reconstruction plan for the industry proposed by Trump shortly after Maduro's ?capture.
• The development comes as oil giants Chevron ( CVX ) and Shell ( SHEL ) are reportedly close to securing big oil production deals with Venezuela. The country ?is home to the world's largest proven oil reserves.