What did Chevron CEO Mike Wirth say about Venezuela's recent oil policy changes and their sufficiency for attracting foreign investment?

Chevron CEO Mike Wirth stated that Venezuela’s recent changes to its long-standing nationalist oil policy 'move things in a positive direction' but 'still need some work' and are 'probably not enough to bring in the level of investment that would be desirable,' indicating measured optimism tempered by concerns over adequacy.

According to Mike Wirth, what critical human-resource challenge hinders Venezuela's rapid oil production recovery?

Wirth emphasized that Venezuela’s 'diminished oil workforce,' with many skilled workers lost to emigration, makes large-scale industry recovery dependent on whether expatriates return — a constraint underscored by the fact that 'you can’t turn on production at a moment’s notice' due to requirements for engineering, supply chains, contracts, and worker mobilization.

Chevron CEO Says Venezuela Must Do More for Oil Industry Revival

Apr 26, 2026

Chevron CEO Mike Wirth stated Venezuela’s oil policy changes show progress but remain insufficient for desired investment levels. He warned that production revival hinges on rebuilding supply chains and recovering skilled workers lost to emigration.

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