Key facts
- Machado's return highlights a division in Venezuela's oil sector between established companies and operators benefiting from opaque deals.
- The US-backed Venezuelan government granted a US-led company 100-year concessions over 17 oilfields.
- The oil deal was described by President Donald Trump as "the biggest oil deal in world history."
- Machado was previously barred from running in the 2024 elections and backed Edmundo González Urrutia.
- US Secretary of State Marco Rubio denied US involvement in any impediments to Machado's return.
Opposition leader María Corina Machado has returned to Venezuela, exposing a division within the country's oil sector. Established companies may welcome a political transition, while other operators have benefited from opaque deals made under the current US-backed interim administration. Machado's presence challenges the US vision for Venezuela's transition and heightens tensions within the ruling party. The US military operation seized former President Nicolás Maduro on January 3, after which the Venezuelan government amended laws, released prisoners, and allowed some exiles to return. A company partnered with the Pentagon received privileged access to the country's oil reserves. Machado's return on Sunday follows a period of exile after being barred from the 2024 elections, where her ally Edmundo González Urrutia ran as the opposition candidate. US Secretary of State Marco Rubio denied US involvement in any impediments to her return.