natural

Venezuela’s January 2026 hydrocarbons law reform marks a major shift in the country’s oil sector. It establishes a more flexible fiscal regime in the name of “international competitiveness,” while expanding the private sector role in extraction, operations, and dispute resolution mechanisms.

The reform follows years of US sanctions on Venezuela’s oil industry and coincides with new US licenses allowing Western conglomerates to move into Venezuela’s energy sector.

Join Blas Regnault, energy policy analyst and consultant focused on oil geopolitics, alongside Venezuelanalysis editors Ricardo Vaz and Lucas Koerner, as they break down the reform, its economic and political context, and what it means for control over strategic resources and national sovereignty.

Powered by RedCircle

Chilling out in La Rioja

Recently travelling from Madrid to San Sebastián, we spent three days in picturesque Briñas in La Rioja, staying at the beautiful Finca Torre de Briñas (doubles from €189 B&B). The neighbouring town, Haro, reached via a 40-minute walk by the Ebro River, hosts several of the largest wine producers in the region (CVNE and Muga are recommended). You can stop in and sample them, before heading into the town centre, which has several tapas spots to fuel the walk back to the hotel. Bliss.
Tom Dickson

Forests and badlands in Murcia

Less than an hour’s drive – yet a world away – from the bustling Murcia coast sits the brooding Sierra Espuña mountain range, a green respite from the summer heat and the site of a rewilding project started more than a century ago. After a morning’s hike through the shady pines, we drove up a switchback mountain road to check out the 16th-century Pozos de la Nieve, and descended steps into a silent, cavernous interior. Come summer, stored ice was hauled by horse and cart from here down to wealthy city folk. Our return route passed the Barrancos de Gebas, a lunar “badlands” landscape formed from a seabed more than 10m years ago. There were few other visitors and it felt like our secret.
Cathy Robinson

Terraced vineyards in Galicia’s gorges

Forest fires in the Picos mountains led us on a detour via the Ribeira Sacra, a wine region in inland Galicia. The area is characterised by the deep canyons of the Sil and Miño rivers, and the steep-sided banks are lined with terraced vineyards, the grapes benefiting from the delicate ecosystem the gorges create. We swam in waterfalls, drank wine and walked among the narrow terraces. A highlight was the walk at the top of the Miradoiro de Souto Chao (the Grape Pickers’ Viewpoint). The views were stunning: tranquil, natural and barely a tourist in sight.
Ruth Chapman

A fairytale town in Navarre

A medieval settlement rising above the sparse landscape of Navarre province, Gallipienzo is the stuff of fairytales. Before beginning our ascent on the winding road to the old town, we took a dip in the Aragón River, much needed after sightseeing in scorching Pamplona. Arriving at Hotel Heredad Beragu (doubles from €109 B&B), we were given a warm welcome by Patxi and Ramón, who have turned an old farmstead into a chic getaway. After a sunset walk, soaking up views of the surrounding countryside framed by ramshackle doorways, we headed back to the hotel for a locally sourced dinner, rather smug to have discovered this gateway to the past.
Anna

Bridge to the Basque Country

The city of Bilbao is deservedly popular. But take a 25-minute train ride along the Nervión River to the coast and you will arrive in Portugalete. Head straight to the Crepería Miramar for great coffee and a perfect tortilla. The cafe sits on the estuary in the shadow of the wonderful Vizcaya Bridge. Built in 1893, it is the world’s oldest transporter bridge, a Unesco world heritage site, and the perfect combination of beauty and function. For €1 take a trip on the transporter over to Getxo and walk around the bay to the lovely fishing village of Algorta. A perfect day.
Michael Quinn

Exploring the Alpujarras, near Granada

Last month, I was delighted to find the almond blossom out while walking the Ruta Medieval in the Alpujarran municipality of La Taha. This year, after the disastrous storms in the south, no hike has been without hazards – landslides and fallen trees – so an app such as Wikiloc is essential to find detours. If you don’t have a car, a bus stops at Pitres, the start of the waymarked trail along ancient cobbled paths, through whitewashed, flat-roofed Moorish villages that hang on the side of the gorge created by the River Trevélez. There are various options after Ferreirola. A strenuous climb through Atalbéitar to Pórtugos, or a gentler one to Busquístar. Both have a bus back to Pitres or onwards to Órgiva (of Chris Stewart, Driving Over Lemons, fame) or even Granada.
Laura

Medieval gems in Léon

We arrived in Ponferrada on foot as part of our Camino de Santiago walk, so we could see the town looming up ahead of us well in advance. As well as an attractive centre with old buildings, restaurants, and bars serving the famous Bierzo wine, the most famous thing about Ponferrada is its huge Disney-like castle, thought to have been built by the Knights Templar, which not only hosts mock-medieval pageants but also contains a stunning collection of manuscripts and maps. After our journey from the lovely mountain village of El Acebo, we still found the energy to do the extra couple of miles uphill in the sun to visit the tiny romanesque church of Santo Tomás de las Ollas, which for me was worth a dozen castles.
Barbara Forbes

A spectacular slow rail trip from Santander

We got off the ferry at Santander and took a train on the narrow-gauge railway heading west. The slow and spectacular former Feve (now operated by Renfe) line runs along the northern Spanish coast towards Oviedo and Ferrol. We stopped off at coastal villages Llanes and San Vicente, and found great value places to stay, good local wine and excellent restaurants. Viveiro was another excellent stop where restaurants served cloudy white wine in ceramic jugs to accompany the wonderful seafood. Lonely and dramatic beaches complete the idyll. We had a lot of time so were able to absorb all this wonderful coast could offer before heading down towards Vigo and Porto by train.
Alan White

A stunning find near Girona

The stunning medieval town of Peratallada made a peaceful base for exploring the Empordà region in September. Against cloudless, azure skies, its caramel-coloured walls and arches dripped with red campsis and bougainvillea. It’s an excellent day trip from Girona (20 miles away) and towns on the Costa Brava, but it’s worth more of your time. Climb the Torre de las Horas bell tower (free; visitor numbers restricted) for great views, and work your way around the welcoming shops, cafes and restaurants. Particular favourites were Restaurant La Roca and DO Candelaria.
Kay Julier

Winning tip: Hanging in Cuenca

In the Castilla-La Mancha mountains east of Madrid, I visited the Unesco world heritage city of Cuenca. Sitting proudly upon its plateau and ensnared by the Júcar and Huécar rivers, this city offers spectacular vistas. To take advantage of the views and the otherworldly karst rock giants, hike the 4-mile circular route through pine forest, finishing with a sunset over the medieval city. Add to that a free abstract art museum vertiginously perched within the Casas Colgadas, and a beautifully-lit labyrinth of streets after dusk, and Cuenca is a perfect town to visit off the beaten track.
James Mulligan

Mérida, April 8, 2026 (venezuelanalysis.com) – Energy multinational Shell is reportedly in advanced negotiations with the Venezuelan government to expand its operations in the country’s offshore natural gas fields

According to Reuters, the London-based oil and gas giant is seeking rights to exploit four major fields in Venezuelan waters near the maritime border with Trinidad and Tobago.

Shell wants to move beyond the 4.2 trillion cubic feet (tcf) Dragon field project, which it is set to develop alongside Trinidad’s National Gas Company (NGC) after receiving a 30-year license from the Venezuelan government in December 2023.

The company is currently targeting three additional fields that, together with Dragon, comprise the Mariscal Sucre project: Río Caribe, Patao, and Mejillones. The four fields represent approximately 12 tcf of reserves combined.

Shell likewise aims to accelerate operations in the 7.3 tcf Loran field, which forms part of the Loran-Manatee cross-border reservoir with Trinidad. The firm is already developing the Manatee side in Trinidadian waters, and spokespeople referred to Loran, which remains largely untapped, as an “attractive investment opportunity.” 

If the deals are finalized, Shell would gain access to a combined resource base of approximately 20 tcf of Venezuelan natural gas, with plans to process it into liquefied natural gas (LNG) in Trinidadian facilities.

Shell CEO Wael Sawan stated during the late March CERAWeek conference in Houston that the company could reach a final investment decision (FID) on at least two Venezuelan projects “before the end of this year, if afforded the right fiscal and legal frameworks.” Sawan added that there is “a long way to go” before the projects launch but that he was “encouraged” by recent progress.

A primary hurdle in the current negotiations is the status of the Río Caribe and Mejillones fields, which had partial ownership stakes previously assigned to Rosneft and then transferred to Russian state-owned Roszarubezhneft in 2020. Both fields have remained largely untouched.

In a statement to Reuters, a Shell spokesperson confirmed that the Russian part-ownership is “a problem” but expressed confidence in overcoming it.

For its part, the government of Trinidad and Tobago has maintained a supportive stance toward the integration of Venezuelan gas into its domestic infrastructure. Port of Spain possesses significant idle capacity at its Atlantic LNG facility, partly owned by Shell, due to declining domestic production in recent years.

The Trinidadian Energy Chamber recently expressed optimism that the expanded Shell projects in Venezuelan waters would “boost [Trinidadian] exports and generate much-needed foreign currency.”

However, the recent negotiations have drawn internal scrutiny. Former Energy Minister Kevin Ramnarine noted that while the deals will benefit Trinidad’s LNG exports, it effectively transitions the country into a gas importer.

The acceleration of talks for natural gas concession projects in Venezuelan waters follows the January 2026 reform of the Caribbean nation’s Organic Hydrocarbon Law. The pro-business overhaul granted private corporations significant benefits in terms of reduced fiscal responsibilities and increased control over operations and sales.

In addition to offshore natural gas ventures, Shell additionally signed agreements to take over light and medium-crude projects in the Punta de Mata Division in eastern Venezuela.

For the Dragon Project, the proposed development plan involves drilling subsea wells in Venezuelan waters and tying them to the Hibiscus platform off the north coast of Trinidad. The Loran field is expected to be linked to the Manatee platform.

Alongside Shell, BP had also previously progressed in talks to exploit the Cocuina-Manakin joint field. Both energy corporations recently received US Treasury licenses to negotiate contracts with Caracas under restricted conditions.

The Nicolás Maduro government had suspended all joint natural gas projects with Trinidad in late 2025 after the Kamla Persad-Bissessar government openly supported the Trump administration’s Caribbean military build-up ahead of the January 3 military strikes against Venezuela. Maduro and First Lady Cilia Flores were kidnapped by US special forces.

Edited by Ricardo Vaz in Caracas.

BUFFY the Vampire Slayer star Nicholas Brendon has died of “natural causes” aged 54.

The actor was known for playing Buffy’s much-loved companion Xander Harris on the hit 90s show and for later appearing in Criminal Minds.

His family released a heartbreaking tribute after his death on Friday.

They told The Hollywood Reporter: “We are heartbroken to share the passing of our brother and son, Nicholas Brendon.

“He passed in his sleep of natural causes. Most people know Nicky for his work as an actor and for the characters he brought to life over the years.”

They added: “While it’s no secret that Nicholas had struggles in the past, he was on medications and treatment to manage his diagnosis and he was optimistic about the future at the time of his passing.”

Nicholas played Xander for seven years and was in all but one of the show’s 144 episodes.

His character was beloved amongst Buffy fans and known for his sarcastic humour and fierce loyalty.

Following the success of Buffy the Vampire Slayer he had a recurring part as Kevin Lynch in Criminal Minds from 2007 – 2014.

He initially pursued a career in acting in order to help manage his stutter which made him fearful of meeting strangers.

Alongside acting he enjoyed painting and photography and sold his own original work.

Nicholas landed his break-out role as Xander at age 25 after he was fired from his job.

After the show finished he announced at a fan convention that he would be entering rehab for alcoholism in 2004.

He married actress Tressa DiFiglia in 2001 before they split in 2006.

Nicholas married Moonda Tee in 2014 one week after he proposed but the couple separated five months later.

The actor had multiple arrests and struggled with depression and alcoholism.

In 2015 the actor was arrested for strangling his girlfriend in Saratoga Springs, New York. Nicholas was charged with felony, third-degree robbery, criminal mischief and obstruction of breathing.

He pleaded guilty to the charges and agreed to start rehabilitation again but he was arrested again in 2017 and 2021.