VENEZUELA: A Restructuring Decree & more – 19th Feb 2026

Buenos días from Gracia! This is the Rorshok Venezuela Update from the 19th of February twenty twenty-six. A quick summary of what's going down in Venezuela.

elcy Rodríguez issued Decree: 5248

The list includes entities such as Misión Socialista Nueva Frontera de Paz, a state run program focused on border areas, which the decree said would move under the Foreign Affairs ministry; the Robert Serra youth mission foundation, linked to youth training and entrepreneurship programs, and the Office of Special Plans and Projects, known as OPPPE, a presidential body set up to manage special urban and infrastructure initiatives.

El Estímulo framed the decree as one of the largest recent executive restructurings during the transition period.

On Friday the 13th, Reuters reported that the US issued two broad general licenses that ease restrictions on Venezuela’s energy sector. One license lets major firms with projects on the ground, including oil companies like Chevron, BP, Eni, Shell, and Repsol, to keep operating. The other allows companies to negotiate new investment contracts with PDVSA, Venezuela’s state oil company, though deals still need separate approvals.

Reuters said royalty and tax payments must run through a US-controlled deposit fund, and transactions involving Russia, Iran, or China remain restricted. It also said the licenses came from the US Treasury's sanctions office and were presented as a way to attract investment while keeping oversight tight.

Speaking of China, on Thursday the 12th, Chris Wright, the US Energy Secretary, said Washington is trying to avoid damaging legitimate Chinese deals in Venezuela. He framed it as a balance, opening space for investment while warning that some arrangements across the region have been structured in ways the US considers risky. Wright raised the need for debt restructuring tied to past expropriations, which can slow new capital.

More about the US, as on Friday the 13th, President Donald Trump said he plans to visit Venezuela, saying that the relationship with interim president Delcy Rodríguez was “very good”. However, Rodríguez has continued to publicly call Nicolás Maduro the legitimate president, which keeps the political picture messy.

On the diplomacy desk, on Tuesday the 17th, Sheikh Mohammed bin Abdulrahman al-Thani, Qatar’s prime minister, arrived in Venezuela and was greeted by Yván Gil, the foreign minister, on state television footage. Neither side released a public schedule.

Qatar has played a mediation role in past US-Venezuela contacts and has backed talks between Venezuelan officials and opposition groups.

According to a Twitter post by Vente Venezuela, a human rights committee of the opposition movement, on Saturday the 14th, seventeen political prisoners were released. NGO Clippve also confirmed the releases: there were ten men and seven women. The update landed while families continue to track who gets out and who remains behind bars, and whether releases happen steadily or in small batches.

Still on human rights, on Wednesday the 18th, Human Rights Watch (HRW) urged Venezuelan authorities to dismantle the country’s repressive apparatus and move quickly on institutional reforms. The HRW called for changes to the justice system and electoral bodies, the repeal of abusive laws, and accountability for security force abuses. The group also warned that many people remain arbitrarily detained and that restrictions can continue even after release.

Meanwhile, on Wednesday the 18th, El Estímulo reported Copa Airlines will increase its weekly frequency on the Caracas-Panama route starting on the 21st of February. The outlet said Copa will operate two daily flights each week at first, then add a third on Tuesdays, Thursdays, and Saturdays starting on the 10th of March.

Panama is a major connector for Venezuelans because Copa’s hub links to dozens of onward destinations across the Americas.

Now, to a gas station update that spread fast in Caracas. On Tuesday the 17th, El Estímulo reported PDVSA began a pilot sale of ninety-seven octane gasoline, a higher-grade fuel often used in newer, high-compression or turbo engines.

The report said it launched at eight service stations in Caracas, with a price of one US dollar per liter, about double the current fifty US cents price for regular fuel sold in many stations. For years, Venezuelan stations used to offer choices like ninety-one and ninety-five octane, but refinery problems later pushed the market toward lower-octane fuel.

According to PDVSA this higher octane is designed to reduce engine knocking in vehicles that actually require it, and it does not add benefits for cars that do not.

Switching gears to music and tourism, because Semana Santa is one of Margarita’s biggest travel windows. On Wednesday the 18th, El Estímulo news outlet reported that the Saca el Pecho Fest is returning to Playa El Agua on Margarita Island, with dates set for the 2nd and 3rd of April. Margarita is a Caribbean island off Venezuela’s northeastern coast, and Playa El Agua is one of its best-known beach zones, built around tourism and holiday traffic.

The lineup includes international headliners, plus Venezuelan acts like Adso and Oscarcito, with DJs adding a day to night format. Organizers framed it as a return to the island after years in which the brand was tied to events on the mainland, and the twenty twenty-five edition was described as a shift that brought back the classic Semana Santa beach festival feel in Margarita.

Still on entertainment news, on Wednesday the 18th, El Estímulo reported that the documentary De Macedonia con amor would be screened at the Universidad Central de Venezuela,, for the first time inside the country. The outlet said the film focuses on civil organizing around the elections of the 28th of July twenty twenty-four and the crackdown that followed. It also said the screening is part of a wider set of events in multiple cities abroad calling for the release of political prisoners.

Now for the city calendar, as daily life kept moving alongside politics. On Sunday the 15th, Venezuelan digital news outlet El Diario published a guide with things to do in Caracas through the end of February. The list includes activities at the Trasnocho Cultural, exhibitions and events tied to Carnival season, plus parks and museum plans for families.

Staying with Carnival, here is a street-level snapshot that carried its own kind of optimism. On Sunday the 15th, El Estímulo news outlet published a photo essay on Carnival in San Agustín, a Caracas neighborhood known for its community music and traditions. The images showed costumes, color, and crowds, and the piece described residents welcoming visitors from across the states.

In sports news, the national baseball team calendar is already on the move. On Thursday the 12th, El Diario reported that Venezuela’s baseball team will start its training camp on the 1st of March in West Palm Beach, Florida, ahead of the World Baseball Classic. The outlet said the plan was confirmed by Aracelis León, president of the Venezuelan Baseball Federation, known as Fevebeisbol.

Finishing off this episode, a recommended read that connects the oil headlines to the wider economy. On Tuesday the 17th, El País published an analysis on how Venezuela’s recovery is leaning heavily on oil and banking. The piece cites analyst estimates that at least a third of GDP comes from oil revenues and more than 80% of foreign currency earnings come from crude exports. It argues that sustained growth will require new rules and large investments, including changes that help the financial system reconnect and absorb capital, not only higher exports.

Read the full piece in English with the link in the show notes.

Aaand that’s it for this week! Thank you for joining us!

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¡Hasta la próxima!