Venezuela suspends 19 oil, gas production-sharing contracts signed under Maduro government, sources say

[Eugene]

Source: Reuters

Exclusive-Venezuela suspends 19 oil, gas production-sharing contracts signed under Maduro government, sources say

By Marianna Parraga
Thu, February 26, 2026 at 6:49 PM EST 1 min read

HOUSTON, Feb 26 (Reuters) - Venezuela's oil ministry has suspended 19 oil production-sharing contracts with private ‌companies signed under the administration of President Nicolas Maduro, ‌four sources with knowledge of the move told Reuters.

The suspension has had ​no impact on the country's oil and gas output so far, the sources said. State oil giant PDVSA is selling the crude produced under the contracts while they are suspended, ‌they added.

Caracas and Washington ⁠would review the contracts and may recommend revoking some of them, the sources said. The ⁠Venezuelan and U.S. governments are reviewing the credentials of the companies that signed them, the sources added. Some of the companies ​are ​little-known and the deals were ​signed while Venezuela was under ‌U.S. sanctions.

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