US and Venezuela Audit Secret Oil Contracts From Maduro Era

Key Details Venezuela and the U.S. are reviewing dozens of confidential oil contracts signed under Nicolas Maduro's regime. These deals were designed to circumvent American sanctions and keep investor names hidden to avoid U.S. retaliation. The agreements, called productive participation contracts, allowed companies to pump and trade crude while the government worked around legal restrictions on non-state oil sales. Why It Matters Under pressure from the Trump administration, Venezuela is now auditing the firms involved while U.S. officials inspect export paperwork. This scrutiny could slow Venezuela's oil sector recovery if companies become reluctant to sign new drilling contracts. The uncertainty creates challenges for an industry desperate for production growth. Current Status Venezuela's interim government reported 31 total contracts from the Maduro era, though only a handful actively produce oil. Eight contracts were generating about 210,000 barrels per day by mid-February, primarily from Lake Maracaibo and the Orinoco Belt. PDVSA has not released an official list of contract holders, leaving significant opacity in the sector.