Wayne Lumbasi
Venezuela’s acting president, Delcy Rodriguez, has formally invited Barbados to explore investment opportunities in Venezuela’s oil and gas industry, signaling a renewed push to deepen economic cooperation between the two Caribbean neighbors. The proposal was made during Rodríguez’s official visit to Bridgetown, where she held talks with Barbadian Prime Minister Mia Mottley.
According to officials, discussions centered on energy security, trade expansion, tourism, agriculture, and joint investment. Rodríguez said Barbados had been invited to participate in oil and gas exploration projects as Venezuela seeks to raise hydrocarbon production and attract regional partners into its recovering energy sector. She added that closer cooperation could also help strengthen Barbados’ energy supply.
Prime Minister Mottley welcomed the opportunity, noting that Barbados is currently navigating energy security challenges due to global market volatility and high import costs. However, she emphasized that future cooperation should not focus only on fossil fuels, but also include renewable energy initiatives such as solar development and sustainable infrastructure.
The meeting comes as Venezuela intensifies diplomatic outreach across the Caribbean. Rodríguez recently visited Grenada and also held talks with Colombia on trade and energy matters, indicating Caracas is trying to rebuild regional alliances while reopening its economy to foreign capital.
Venezuela holds some of the world’s largest proven oil reserves and substantial offshore gas resources, but years of sanctions, underinvestment, and operational decline weakened production. Recent moves involving international firms such as Eni and Chevron suggest fresh attempts to revive output.
For Barbados, deeper ties with Venezuela could reduce long-term fuel dependency and open new investment channels. For Venezuela, the partnership offers a chance to strengthen Caribbean support while drawing in much-needed capital for its energy sector.
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