3 Things Venezuela's oil, midday meal cooks on strike, and unrest in Assam
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Jan 21, 2026 Anil Sasi, National Business Editor at The Indian Express, discusses the geopolitical implications of Venezuela's oil reserves, highlighting why major companies are hesitant to invest due to legal and political risks. Meanwhile, Jayprakash Naidu sheds light on the ongoing protests by midday meal cooks in Chhattisgarh, who demand better wages and recognition for their vital role in feeding children. Lastly, Sukrita Baruah reports on the unrest in Assam's Bodoland region, detailing triggers of violence and the impact of internet suspension on the community.
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Paper Reserves vs Actual Production
- Venezuela's reported oil reserves are massive on paper but actual extraction has lagged for decades.
- Nationalisation and limited technology mean PDVSA taps under 1% of claimed reserves.
Challenging Crude Limits Buyers
- Venezuelan crude is heavy and sour, requiring specialised refineries that few worldwide possess.
- That limits immediate buyers and complicates rapid market entry even if production rises.
Investment Dried Up After Nationalisation
- Investment in Venezuela's oil sector collapsed after waves of nationalisation and asset seizures by PDVSA.
- Major companies left and now pursue legal claims worth billions, raising political risk for returnees.