Venezuela appoints US-educated banker to lure American oil investment

Venezuela's acting leader has installed a banker with American credentials to oversee the nation's investment promotion efforts, marking the latest attempt to court United States petroleum companies following a dramatic political shift in Caracas, the Buenos Aires Times reported.

Calixto Ortega Sánchez, who previously governed Venezuela's central bank and studied in the United States, now heads the International Centre for Productive Investment after interim president Delcy Rodríguez dismissed the previous director.

The move removes Alex Saab, a Colombian-born figure close to former president Nicolás Maduro whom Washington accused of money laundering. Rodríguez had already stripped Saab of his industry minister position days earlier.

Ortega's background includes a diplomatic posting to Houston, home to America's oil refining industry, suggesting familiarity with the petroleum sector Venezuela hopes to revitalise with foreign capital.

"A signal to the Trump administration that Venezuela wants to play by the rules," said Phil Flynn from Price Futures Group, describing the appointment as demonstrating efforts to attract companies including Chevron and ExxonMobil.

US President Donald Trump asserts Washington effectively controls Venezuela after American forces captured Maduro on January 3 at a Caracas military installation, subsequently transferring him to detention in New York. Trump endorsed Rodríguez as Maduro's successor whilst warning of severe consequences should she diverge from American expectations.

The Republican leader claims oil firms stand prepared to invest at least $100bn in Venezuela's energy sector. However, Rob Thummel from Tortoise Capital noted such companies would demand "stability and political clarity" before committing substantial resources to revitalising the country's petroleum production.

Writing on X, Rodríguez stated Ortega's selection would promote "the continued attraction of national and international investment" driving economic recovery.

Meanwhile, opposition leader Maria Corina Machado, who received the Nobel Peace Prize, remains excluded from Venezuela's transitional arrangements despite Trump stating on January 20 he continues discussions with her. "Maybe we can get her involved in some way. I'd love to be able to do that," he told reporters after Machado presented him with her medal at the White House.

Machado, currently in Washington, insists genuine transformation requires releasing all political prisoners. Rodríguez has begun freeing some detainees from an estimated 800 held in Venezuelan facilities, though key Maduro opponents remain incarcerated.

Families of 200 prisoners demonstrated outside Caracas prosecutors' offices on January 20 demanding evidence that their relatives survive. Nancy Quiñones told AFP she has received no information about her son, imprisoned for alleged coup involvement, for over five months.