00:00The AEC signed a Memorandum of Understanding with Venezuela.
00:04What is the first concrete project that will come out of it?
00:08I think a big part of the big projects that you see out of the memorandum signed with Venezuela
00:15would be that of education.
00:18Venezuela has an amazing history in training oil and gas, petroleum professionals,
00:23not just in Venezuela, but around the world.
00:25It's a big, big opportunity for African countries operating in the oil and gas sector
00:33to capture and seize on Venezuela's experience.
00:36We are very thankful to the acting president, Darcy Rodriguez,
00:41for really insisting that this kind of opportunity happens.
00:44So we're looking forward to training a lot of Africans at the Venezuelan Hydrocarbons University.
00:50They will be trained on upstream, midstream, downstream energy matters,
00:56but also how to manage professional development onshore.
01:01That is really going to help us with a lot of things.
01:04Another big aspect of what we're going to do with Venezuela is focusing a lot on stabilizing the energy markets.
01:10We know when energy is too expensive, it is bad for African homes.
01:14So Venezuela has been committed to that and really driving that to ensure that we meet our realities
01:20and develop energy in Africa.
01:22And talking about your meeting with Delcy Rodriguez,
01:25many analysts predicted a collapse in Venezuela following the event of January 2026.
01:31After meeting with Delcy Rodriguez, what makes you so optimistic?
01:35I think we have to look at the results.
01:37I think in January, people thought Venezuela is over and it's going to be unrest.
01:42Yes, everything is going to be fighting across the country.
01:45That is not true.
01:47And we've seen, as of today, we've seen a country that is more stable.
01:51As somebody who represents a lot of the oil industry globally,
01:56we've seen a country that is resilient, is resolved moving forward.
02:03And we've seen new stability.
02:05We've seen peace.
02:07We've seen security.
02:08I am here in Venezuela and it's a big testament to that.
02:12It's been my second trip in Venezuela in three months.
02:15And I believe that the acting president has just been able to keep it together.
02:21She's been able to unify the country, bring global partners,
02:26keep focus on ensuring investments in the country.
02:30We've seen a lot of bureaucracy that kept Venezuela from succeeding in the past, being slushed.
02:36So Venezuela has cut red tape and rolled out the red carpet for not just in domestic,
02:43but also international investors.
02:45And big among it is confidence.
02:47There's a lot of confidence in Venezuela right now.
02:52There's a lot of confidence that the country can transform itself to become the best place for energy investments in
03:00the world.
03:01And keeping in that subject, in your article, you state that Venezuela is in good hands.
03:06What did you see in Caracas to give you that confidence?
03:09I see peace, I see security, I see stability.
03:13I see everyday people walking together.
03:16We shouldn't forget, I'm very proud to be in Venezuela at a time where yesterday we celebrated Africa week in
03:23this city.
03:25And you've seen the diplomats.
03:28I mean, I found myself dancing in Caracas.
03:30And you just, there's a certain feeling of hope.
03:36There's a certain feeling of, that people can walk hand in hand together in this country.
03:42But also if you look at it from the global economic community,
03:46we are seeing more people wanting to invest and wanting to be part of Venezuela's transformation.
03:53And that happens when people see action.
03:57Venezuela has gone from producing less than a million barrels to 1.2 million barrels of oil a day.
04:04Venezuela has improved its organic laws to improve the hydrocarbon laws to make it more attractive.
04:10They've gone into creating new CPP, getting production sharing contracts.
04:15They've improved on how you see the powers around PDVSA to make it more attractive for foreign investors to come.
04:23So there has been actionable things that have happened, steps that have been sent to the international community,
04:32but also the domestic market.
04:34That in itself, coupled together, sends its ratings high.
04:39I'm bullish about Venezuela.
04:41I would not be here if I did not find myself bullish about it.
04:45I'm somebody who will only go where we see that progress can be made.
04:50And it has been more welcoming.
04:52And it's a, one of the things you have to also look.
04:55Look at the number of airlines that come to Venezuela.
04:58When I came here in February, I could only come with one airline.
05:01Right now, there are about nine or ten different airlines coming to the country.
05:05So beyond oil, you're going to see a big boost in tourism.
05:09And that's a good thing.
05:10Okay.
05:10And now that you talk about the investments and all the big companies that are coming back to Venezuela,
05:15what would you say to a foreign investor who's still afraid to put their capital into Venezuela?
05:22Be not afraid.
05:23Venezuela is open for business.
05:26This is one of the best markets that is really going to shock the world when it comes to energy
05:31investment.
05:31Venezuela is moving from potential to reality.
05:36Venezuela has committed to seeing a lot of these investors doing very well.
05:42You've seen a country that has a depth, not just in resources, but a depth in human resources that makes
05:50it easy to do business.
05:52You've seen a population that is welcoming, ready to engage, ready to work hand in hand with investors to drive
05:59up the country.
06:00You've seen a country where people, everyday people on the streets, when they see you, they welcome you.
06:07They see you as part of them, not something else.
06:10And I think that feeling coupled with an environment that is pro-investment, pro-growth, pro-people,
06:20but also thinking that the low guy has to be the big guy.
06:24That is the right kind of ingredient for a country that can leap bounce and want to take.
06:30And if you're a big investor out there and you're looking to see how your dollars can make a difference,
06:37choose Venezuela.
06:39This is the right time to invest.
06:41And I think there will be the right kind of returns on investments, as you see.
06:47And you mentioned the Venezuelan resources.
06:50So what Venezuelan products, other than oil, does the AEC want to pave the way for in the African market?
06:58Well, I want to eat a lot of arepas.
07:00I think that's very, very important for me.
07:03I love food.
07:05And being in Venezuela, the arepas, it's good.
07:09I cannot stop really thinking about it.
07:12And I think the coffee in Venezuela is something that's been really, really amazing.
07:18I think I'm from Africa.
07:20We have got the Arabica coffee, the Robusta coffee.
07:23It's something that's been truly a transformation of what you see here, moving beyond oil.
07:27But I'll tell you something.
07:29The food has been something, really, from the yucca, the cassava, the black beans, the plantains.
07:36So coming in from Africa, I found myself at home with the food.
07:40And I just felt there is so much you see that Venezuelan products have been able to be taken,
07:46and it needs to be transformed.
07:47And one of the key things that we at the AEC are working on is to extend the intra-Africa
07:52free trade agreement
07:54to ensure that Venezuelan products can land into a 1.5 billion African market,
08:00open new markets for Venezuelan products.
08:02That's going to be so essential because it really gives Venezuelan farmers.
08:08So we don't just rely on oil alone, but we also look at tariffs, find the economy,
08:13but have ready markets for Venezuelan products to come there.
08:16That in itself, it's going to be the change of the future.
08:20Thank you.
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