FT News Briefing The investors eyeing Venezuela’s oil
70 snips
Jan 6, 2026 
Jamie Smith, U.S. Energy Editor at the Financial Times, shares insights on the rising interest from smaller private investors in Venezuelan oil, especially in light of Nicolas Maduro's ongoing legal troubles. He discusses how these investors can move quickly in contrast to major companies, which remain cautious due to historical expropriations and low prices. Meanwhile, Peter Foster sheds light on Southeast Asia's resilience against U.S. tariffs, explaining how local producers have managed to absorb additional costs and maintain export levels amid trade uncertainties.
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Veteran Oil Players Racing In
- Ali Moshir, a former Chevron executive, is raising $2bn to buy and develop Venezuelan oil assets and targets 20k–50k barrels per day.
- Harold Hamm and other experienced investors are also considering opportunistic moves into Venezuela after the recent U.S. operation.
Speed Beats Scale In Risky Markets
- Smaller private equity investors can move faster and avoid corporate board hurdles to invest in politically sensitive markets like Venezuela.
- Their prior Venezuela experience and pre-raised capital give them a speed advantage over majors.
Why Oil Majors Hang Back
- Major oil companies remain cautious because of past expropriations and low oil prices that squeeze profitability.
- Chevron is a possible exception due to existing operations that could scale quickly, but it has stayed publicly silent.