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Venezuela's Rodriguez calls for oil reforms to allow more investment

by Associated Press

CARACAS Jan 15, 2026 - 11:43 pm GMT+3
Venezuela's interim President Delcy Rodriguez gestures as she delivers her first annual address to the nation at the National Assembly, Caracas, Venezuela, Jan. 15, 2026. (AFP Photo)
Venezuela's interim President Delcy Rodriguez gestures as she delivers her first annual address to the nation at the National Assembly, Caracas, Venezuela, Jan. 15, 2026. (AFP Photo)
by Associated Press Jan 15, 2026 11:43 pm

Venezuela's acting President Delcy Rodriguez on Thursday used her first state of the union address to call for oil industry reforms that would open the door to more foreign investment, an objective pressed by the Trump administration since it ousted the country's longtime leader less than two weeks ago.

Rodriguez, who has been under pressure from the U.S. to fall in line with its vision for the oil-rich nation, said sales of Venezuelan oil would go to bolster crisis-stricken health services, economic development and other infrastructure projects.

While she sharply criticized the Trump administration and said there was a "stain on our relations," the former vice president also outlined a distinct vision for the future between the two historic adversaries, straying from her predecessors, who have long railed against American intervention in Venezuela.

"Let us not be afraid of diplomacy" with the U.S., said Rodriguez, who must now navigate competing pressures from the Trump administration and a government loyal to former President Nicolas Maduro.

The speech, which was broadcast on a delay in Venezuela, came one day after Rodriguez said her government would continue releasing prisoners in what she described as "a new political moment" since Maduro's ouster.

On Thursday, Trump met at the White House with Venezuelan opposition leader Maria Corina Machado. But in endorsing Rodriguez, who served as Maduro's vice president since 2018, Trump has sidelined Machado.

On Thursday, Rodriguez said money earned from foreign oil sales would go into two funds: one dedicated to social services for workers and the public health care system, and another to economic development and infrastructure projects.

Venezuela's interim President Delcy Rodriguez delivers her first annual address to the nation at the National Assembly, next to the picture of former President Nicolas Maduro and his wife Cilia Flores, Caracas, Venezuela, Jan. 15, 2026. (Reuters Photo)
Venezuela's interim President Delcy Rodriguez delivers her first annual address to the nation at the National Assembly, next to the picture of former President Nicolas Maduro and his wife Cilia Flores, Caracas, Venezuela, Jan. 15, 2026. (Reuters Photo)

Hospitals and other health care facilities across the country have long suffered. Patients are asked to provide practically all supplies needed for their care, from syringes to surgical screws. Economic turmoil, among other factors, has pushed millions of Venezuelans to migrate from the South American nation in recent years.

In moving forward, the acting president must walk a tightrope, balancing pressures from both Washington and top Venezuelan officials who hold sway over Venezuela's security forces and strongly oppose the U.S.

For the foreseeable future, Rodriguez's government has been effectively relieved of having to hold elections. That's because when Venezuela's high court granted Rodriguez presidential powers on an acting basis, it cited a provision of the constitution that allows the vice president to take over for a renewable period of 90 days.

Trump enlisted Rodriguez to help secure U.S. control over Venezuela's oil sales despite sanctioning her during his first term. To ensure she does his bidding, Trump threatened Rodriguez earlier this month with a "situation probably worse than Maduro."

Maduro, who is being held in a Brooklyn jail, has pleaded not guilty to drug-trafficking charges.

Before Rodriguez's speech on Thursday, a group of government supporters was allowed into the presidential palace, where they chanted for Maduro, who the government insists remains the country's president. "Maduro, resist, the people are rising," they shouted.

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  • Last Update: Jan 16, 2026 1:10 am
    KEYWORDS
    americas venezuela venezuela crisis nicolas maduro delcy rodriguez energy oil reforms investment united states donald trump
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