A group of American entrepreneurs visited Venezuela earlier this week aiming at investing in oil after U.S. sanctions eased in October. The group met with the representatives of Petroleos de Venezuela SA (PDVSA), the state-owned oil firm, as well as local private companies. Among the investors was Harry Sargeant III, a Florida-based oil businessman and a key figure in facilitating collaborations between United States business interests and Venezuelan crude, according to a report by Forbes.
Conflicts in Ukraine and the Middle East as well as the migrant crisis have been said to be a cause of the renewed interest in Venezuela as a potential supplier of world energy. The easing of the sanctions, a decision made in exchange for commitments from the Maduro administration to take steps towards freer and fairer elections, have led oil traders and entrepreneurs to again set their eyes on Venezuela.
