On 28 October, Minister of Industry Alex Saab said that Venezuela should pursue a policy of import substitution, and also aim to be a leading exporter in the region.

The United Nations Development Programme has upgraded its growth forecast for Venezuela this year, in its Second Quarter report published on 7 October.

A court in Trinidad and Tobago approved sending PDVSA payments from the island nation to ConocoPhillips, to cover the $1.33bn claim against the Venezuelan state-owned oil company.

On 23 September, Venezuela’s President Nicolas Maduro and Vice President Delcy Rodriguez held a meeting with Repsol executives, with the backdrop of tense relations between Madrid and Caracas.

On 19 September, Venezuelan president Nicolas Maduro announced changes in the administrations relating to trade and ports, as he spoke to the Productive Economy Council.

On 29 August Venezuelan Vice President Delcy Rodriguez announced reforms to encourage growth in the financial sector.

On 29 August, the Central Bank of Venezuela said that the national economy grew by 8.8% in the second quarter of this year, and 8.4% in the first quarter.

Early on Monday morning, the head of Venezuela’s National Electoral Council Elvis Amoroso sparked an international backlash by declaring President Nicolás Maduro as the winner of Sunday’s election.

Venezuela’s crude oil production continued to increase in June, according to the latest OPEC report released on Wednesday. Output has been on a trend of slow yet sustained growth for two years.

On 28 June, the United Nations Development Programme released its forecast of 4.2% economic growth for Venezuela.

Speaking at the Andesco business association conference, Ecopetrol CEO Ricardo Roa presented a 10-year plan to ensure a stable natural gas supply for Colombia, which includes imports from Venezuela from 2025.

The US Energy Information Administration shows that oil imports from Venezuela have increased this year, reaching 180,000 barrels per day in March. That month, the South American country rose to become the sixth source of crude imports in the US, and seventh for all oil products.

Many people think Venezuelan debt is a lost cause, a game only to be played by rinky-dink hedge funds. After all, the bonds have been in default since 2017 — a longer period in limbo than even Argentina suffered after its 2001 default.

Trinidad and Tobago received a “specific license” from the US Treasury’s OFAC to develop a new gas project in Cocuina-Manakin field. The offshore reservoir is shared between the island nation and Venezuela and involves BP and Trinidad’s National Gas Company.

Venezuela already starts with an advantage with its natural endowments. It has the longest Caribbean coastline with hundreds of islands, white-sand beaches, keys, and natural swimming pools. A varied range of natural reserves cover rainforests, mountains, savannahs, and even a desert—and of course, the famous Angel Falls in Canaima. The country can also draw on its culture, like its rich musical tradition, as attractions.