natural

Caracas, April 29, 2026 (venezuelanalysis.com) – The Venezuelan government signed new energy agreements with energy conglomerates British Petroleum (BP) and Eni in separate ceremonies at Miraflores Presidential Palace.

On Wednesday, Acting President Delcy Rodríguez signed a memorandum of understanding (MOU) to develop the Cocuina-Manakin field, an offshore natural gas project shared between Venezuela and Trinidad and Tobago.

“The return of BP [to Venezuela] is a ⁠clear sign of the future we want to chart for Venezuela and for ​international energy relations,” she said during a live broadcast. “May we have cooperation grounded in a win-win approach and ​shared benefits.”

BP was represented by its Trinidad and Tobago director David Campbell. The Cocuina-Manakin field holds an estimated 1 trillion cubic feet (Tcf) of natural gas, split 34-66 between Caracas and Port of Spain.

Following Wednesday’s agreement, the London-based multinational will additionally explore opportunities in the 7.3 Tcf Loran field, which is also part of a cross-border reserve shared with Trinidad. Both Cocuina and Loran are part of Venezuela’s Deltana Platform, a largely unexplored gas deposit on the country’s eastern maritime border.

Venezuela had suspended all energy projects involving Trinidad and Tobago over its neighbor’s support for the US military escalation in the Caribbean. Following January 3, the acting Rodríguez administration reengaged with Port of Spain, while extending overtures to BP and Shell in an effort to reopen the projects.

The BP agreement came on the heels of another high-profile ceremony at Miraflores on Tuesday that saw Rodríguez extend a “special welcome” to Eni CEO Claudio Descalzi and other executives. In what she called a “milestone in the relations” between Venezuela and the Italian corporation, Rodríguez announced that Eni is planning “one of the largest investments” in the Venezuelan oil sector. 

The contract establishes conditions to relaunch the exploration of the 425 square-kilometer Junín-5 block of Venezuela’s Orinoco Oil Belt. The Junín-5 is estimated to contain 35 billion barrels of extra-heavy oil in place, though only a fraction will be recoverable.

For his part, Descalzi indicated that the signed deal created conditions to “accelerate development” of Junín-5 activities and that the company would finalize its investment plan by the end of the year.

The Junín-5 block was assigned in the late 2000s to Petrojunín, a joint venture where Venezuelan state oil company PDVSA and Eni held 60 and 40 percent of shares, respectively. Crude extraction began in 2013 but did not hit the established targets, hovering around 10,000 barrels per day (bpd) by the end of the 2010s.

The BP and Eni agreements were crafted under Venezuela’s recently overhauled Hydrocarbon Law, which introduces a series of pro-business incentives while curtailing state control over the energy sector.

Under the new law, minority partners can directly manage oilfield operations and sales, whereas in the prior framework that was PDVSA’s exclusive prerogative. Additionally, private companies can have royalties, income tax, and other fiscal contributions slashed at the government’s discretion as well as bring eventual disputes to international arbitration bodies.

In March, Eni, alongside Spain’s Repsol, inked a contract to further development of the Cardón IV offshore natural gas project. The European companies each own 50 percent stakes in the venture and recently announced plans to increase output by roughly 10 percent in the short term.

Eni, which has around 30 percent of its shares owned by the Italian state, is also a minority stakeholder in Petrosucre, a joint venture that operates the Corocoro offshore oilfield. In 2025, the ventures with Eni participation produced an average of 64,000 barrels of oil equivalent per day.

Alongside BP, Eni, and Repsol, Chevron and Shell have likewise struck new deals in recent weeks under the favorable conditions of the hydrocarbon reform. Chevron increased its stake in the Petroindependencia joint venture, while its Petropiar project with PDVSA was assigned a new drilling block in the Orinoco Belt. For its part, Shell will take over light and medium crude projects in Eastern Venezuela and several offshore natural gas initiatives. The company had also expressed interest in the Loran field.

The acting Rodríguez administration has actively courted foreign investment into the South American country’s energy and mining sectors, with leaders openly acknowledging the incorporation of “suggestions” and “recommendations” from Western conglomerates into the recent reform.

Alongside multiple delegations of corporate executives, Rodríguez has also hosted Trump officials, including Energy Secretary Chris Wright and Interior Secretary Doug Burgum, ahead of the recent hydrocarbon and mining reforms.

Last week, newly appointed US Chargé d’Affaires John Barrett stated that Washington’s goal is to “place the private sector at the center of Venezuela’s transformation” during a meeting with the Venezuelan-American Chamber of Commerce and Industry (VENAMCHAM).

Since the January 3 military strikes and kidnapping of Venezuelan President Nicolás Maduro, the Trump administration has issued multiple licenses to facilitate the return of Western conglomerates to the Venezuelan energy and mining sectors.

The licenses mandate that all royalty, tax, and dividend payments be made into accounts run by the US Treasury. Caracas and Washington recently announced the hiring of external auditors to oversee the flow of the US-controlled Venezuelan resources.

Edited by Lucas Koerner in Fusagasugá, Colombia.

Note: The report was amended on Wednesday night to incorporate the BP agreement.

As an Australian living in Italy, I grew up within an hour of some of the most pristine coastline in the world, so the Italian penchant for private beach clubs is something I’ll never quite grow accustomed to.

Along some of Italy’s most naturally beautiful stretches of beach, from the Amalfi Coast to the Cinque Terre, private, exclusive beach clubs and five-star hotels occupy the best patches of shoreline. The natural beauty that made these places famous can feel increasingly roped off.

In Australia, beaches are natural places to be shared. There’s a more relaxed approach to bathing along open stretches of sand framed by nothing but trees, rocks and dunes. For those seeking a back-to-nature holiday, here are six of Italy’s most beautiful free beaches where the coastline remains untouched and open to all.

Riviera del Conero, Marche

The Riviera del Conero is the Marche’s most precious jewel, in a region still largely unchanged by mass tourism. You’ll rarely hear any language other than Italian as it’s all locals and other Italians on their summer holidays.

Set against a stunning backdrop of limestone cliffs covered in pine trees, a series of protected bays with clear green-blue water and white pebbles make up this stretch of coastline within the Conero regional park.

Sirolo is a long, natural beach at the end of a meandering downhill walk through the trees. There’s plenty of space to lay down your towel on the smooth rocks, with the option of paid chairs and umbrellas, too.

Portonovo Bay offers low-key retro 60s beach clubs and long stretches of free beach. Ristorante Emilia has been the standout lunch spot here since 1950, serving up their signature spaghetti with mussels prised by hand every morning from the nearby rocks.
In Sirolo, San Michele Relais & Spa has doubles from €108, and Camping Village Internazionale has cabins from about €100

Gargano, Puglia

While southern Puglia’s beaches are at the top of many travellers’ bucket lists, the rugged Gargano peninsula, which juts out from northern Puglia into the Adriatic, is far less known. Part of Gargano national park, it’s full of rocky coves, quiet bays and long pebbled beaches framed by olive groves.

Portogreco, a tiny cove and popular free beach, is framed by sea caves and rocks perfect for high diving, and offers fantastic snorkelling in the clear waters.

Vignanotica is a long, skinny pebble beach, backed by a sheer limestone cliff that mercifully shades the shoreline by late afternoon in summer.

Make the scenic trip an hour north along the coast for lunch at Al Trabucco da Mimì in Peschici for fresh seafood caught and served on a traditional wooden fishing platform. Order the mixed seafood grill to sample it all.
HMO Glamping in Vignanotica has tents from about €110, or Baia delle Zagare resort in Mattinata has doubles from €150

Ponza, Lazio

A favourite summer escape for Romans, the island of Ponza sits a short ferry ride from mainland Lazio. Pastel houses cluster around a port town unchanged by time. The island opens up into wild coves and quiet swimming spots, the best ones accessible only by boat.

Frontone, the island’s longest beach, is reached by water taxi from Ponza. While some of the shoreline is occupied by beach clubs, there’s still plenty of free beach, and savvy locals know to perch on the rocks at the southern end.

Some of Ponza’s most spectacular swimming spots, such as Chiaia di Luna – a crescent-shaped cove surrounded by soaring orange cliffs – are accessible only from the water, so hiring a dinghy or a captained boat is part of the experience.

Take lunch at Ristoro da Gerardo, which has the best views over Frontone from its rustic raffia-shaded terrace. The homestyle menu offers aubergine parmigiana alongside Ponzese octopus stew, and dessert is figs picked onsite. Guests are invited to stay for a post-lunch nap on loungers shaded by trees.
Hotel Chiaia di Luna has doubles from €115

Pantelleria, Sicily

Closer to Tunisia than Sicily, this slow-paced island feels completely removed from mainland Italy and offers full immersion in the elements. Without a single sandy beach, visitors and locals lay down their towels on the flat volcanic rocks and dive into the clear blue water, amid arid, wind-battered landscapes.

Balata dei Turchi is a secluded bay of volcanic rock at the wilder southern end of the island that is ideal for snorkelling, with clean waters and submerged rocks teeming with bright coral and fish. Nearby at Nikà, underwater thermal springs bubble up out of the sea while you swim.

Laghetto delle Ondine lies at the end of a short hike across otherworldly volcanic terrain, where waves crash against the walls of calm rock pools the size of swimming pools.

At sunset, snag an outdoor table at Dispensa Pantesca in Scauri for an antipasto plate of local specialities, including Pantelleria’s aromatic capers. Or book a more formal dinner in the courtyard next door at sister restaurant La Nicchia.
Stay in traditional dammusi (houses made from volcanic stone) at Pantelleria Dream Resort near Kamma from €170, or at Dammuso Biancolilla near Scauri from €140

Elba, Tuscany

Part of the Tuscan Archipelago, Elba lies 35 miles (55km) east of Corsica, with similarly clear waters and mountainous terrain. Still relatively under the radar outside Italy, the island has 90 miles of coastline, scattered with wild bays and tiny beaches. It’s larger than many visitors expect, so where you base yourself makes all the difference.

Nisporto is a quiet, unspoilt bay enclosed by pine-covered hills at the end of a winding road, giving it a secluded feel, even in summer. The flat sand-and-pebble beach and the gentle waves make it perfect for families with kids. The transparent waters and seabeds rich in marine life are great for snorkelling, or rent a pedalo or canoe to explore the coastline beyond.

In Portoferraio, book dinner at Teatro Bistro for the spectacular views from the terrace, and order the spaghetti with cured mullet bottarga, a Tuscan coastal delicacy.
In Nisporto, Residence La Cota Quinta has apartments from about €80 a night (three-night minimum stay) or Sole e Mare camping village has bungalows from €400 a week for two

Maremma, Tuscany

Just outside the walled city of Grosseto, the regional park of Maremma stretches from the Uccellina mountains to the Tyrrhenian Sea, protecting one of Italy’s most untouched coastlines.

The park’s wild sandy beaches are completely devoid of umbrellas, bars and beach clubs, the only structures being improvised driftwood forts providing refuge from the sun.

Marina di Alberese is the most accessible beach inside the park, the shoreline stretching for miles. Traipse along the coast to quieter Collelungo, or reach it on foot or bike via trails within the lush park.

Easy cycle paths, with bikes and e-bikes readily available to rent, lead through the park from Grosseto to the beaches, passing herds of horned Maremma cows and wild horses.

Stop for a tasting plate of cheeses made at dairy La Maremmana. Their speciality is the buffalo mozzarella, and they’ll pack up extras to take away for a picnic at the beach.
Agriturismo il Melograno di Banditella in Alberese has doubles from €120 B&B

It’s best known for its mighty concrete jungle, but Chris Granet discovers Hong Kong’s greener side, with forested peaks to hike and pristine coastline and islands to explore

The sunshine glittered off the jade waters as we chugged gently out of the busy harbour. Surrounding us were dozens of traditional fishing boats, like the one I was on. Surrounding them was a horizon full of hills, soaring out of the sea and carpeted in lush forests.

Our destination was Sharp Island in the distance, a tiny coral-encircled gem that could’ve been Thailand, Vietnam, or any remote region of Southeast Asia. Surprisingly, I was in Hong Kong. I say that surprisingly because when you think of Hong Kong, you think of the typical Asian megacity. Dense urban living. High-rises and hustle. Manic traffic and neon nightscapes. All of which are true of Hong Kong, and fantastic to experience, but what most people don’t realise is that you can also get off the beaten track within minutes and find pristine nature and beaches.

Formed by supervolcanic eruptions, the territory comprises 430 subtropical square miles across 263 islands, endless peninsulas, and swathes of craggy mainland. Nestled at the heart of this is the main Hong Kong Island and city, which for me has to be one of the world’s best cities for natural settings. However, it’s far from remote – it’s the fourth most densely populated region in the world, with 7.5 million residents. Everywhere you look in the city are tightly packed groves of skinny tenement blocks. It’s like nowhere I’ve ever seen. “We have very little flat land here,” explained our guide. “Most of it is made from demolished hills or reclaimed from the sea – we have to build upwards, not outwards.” But this also means 53% of the land is still forest, with 40% designated as country parks.

The quickest way to experience this would be to journey up Victoria Peak, which stretches up behind the city but is usually obscured by the vertiginous towers. We headed over to the Peak Circle Walk, which gently loops around the summit, on a stroll that encompassed tranquil woodlands and cinematic views of the world-famous skyline and bay below. Magnificent. If you want to avoid the crowds, then there are several trails back down to the city, which are made all the more pretty in the evening once the towers start turning on their technicolored light shows. Hong Kong Island’s southern side is another quick escape into nature, with curving coastal roads, low-rise neighbourhoods, cute coves, and those ubiquitous jungled hills.

It was a gloriously sunny day when I walked the Dragon’s Back trail on the most southeastern peninsula. The name is attributed to the ridge rolling between gentle peaks that resembles the mythical creature’s spine, tumbling down to a bay on one side, and the sea on the other. Despite it being November, it felt like summer as we then made our way down through the woodlands to Big Wave Bay, a glorious golden arc of sand that’s just one of over 100 beaches in the territory. We sat and had a light lunch and a glass of vino in the shade of an outdoor cafe while watching the surfers ride the crashing waves. Bliss.

Nearby, giant Lantau Island has plenty of options. Connected to the mainland by bridges, it’s home to the massive airport – but I took a different sky ride in the glass-bottomed Ngong Ping 360 cable car. It whisked us up and away from a generic concrete suburb over swathes of that lush greenery to the lofty Po Lin Buddhist monastery. The walk from the cable car terminal to the monastery was lined on both sides with tourist shops – not quite the spirit of immaterialism Siddhartha had intended, but handy for those, like me, in need of another coffee. The ornately pretty monastery is famous for its large seated Buddha statue, which we reached via a long flight of stairs as breathtaking as the panoramic views at its summit. On the coastline nearby is the picturesque fishing village of Tai O, with scores of ramshackle wooden houses precariously propped up on stilts on the sides of a little estuary. It was all very quiet as we wandered its maze of backstreets, feeling a hundred miles and years from Hong Kong city. But it perked up as we reached its busier center, and at The Crossing Boat restaurant overlooking the river, we sat at a spinning table and shared a sizzling seafood lunch. Prawn, scallops and fish all locally caught, plus an array of Cantonese stir fries.

If you want proper pristine, then head up to the 58 square mile Hong Kong Unesco Global Geopark on a wild peninsula, with a cluster of islands fanning out from the mainland. It’s the epicentre of the volcanic drama that shaped the region, sculpting surreal honeycombed sea caves, hexagonal rock columns and sheer cliffs, softened over the eons by ocean erosion and dusted with white sand beaches. Truly spectacular. It’s here that Sharp Island is located. It’s easily accessible from the chirpy tourist town of Sai Kung, with its busy harbourfront heaving with seafood restaurants and boat crews clamouring to offer you tours and rides to the many destinations around the Geopark. The usual price for a return ticket to Sharp Island is 50-60 Hong Kong dollars per person (approx £6), but our group of six paid 150HKD pp (approx £15pp) as we chartered the whole boat. Said boat was a little wooden fishing vessel, like most of the others in the harbour, all prettily painted in nautical blues and greens.

I sat perched at its front basking in the high sun for the 15 minutes it took to chug over to the little island’s southern tip. There, our surly boatman dropped us off, then made his way to the northern tip, where he collected us up later. We hiked the 1.5 mile long trail, a ridge walk similar to Dragon’s Back, offering more postcard-worthy views. Branching off Sharp’s northwestern shore is its Instagram-famed bar of shingle and rock that connects it to Kiu Tau islet. It’s only visible during low tide and was sadly in the process of being re-swallowed by the sea as we arrived.

Further offshore are plenty of snorkelling opportunities as, incredibly, Hong Kong is home to more coral species than the entire Caribbean combined, as well as over a quarter of all of China’s marine biodiversity.

Back at Sai Kung harbour, we indulged in more sizzling seafood, with hearty dishes big enough to share, like the fully stacked braised crab roe and shrimp casserole, at a reasonable £10 a pop. Very nice indeed. As I sat digesting our meal, staring out to sea and watching the Saturday afternoon crowds ambling through the sunshine, it was easy to forget that I was still in the midst of a roaring megametropolis.

BOOK THE HOLIDAY

Cathay Pacific flies direct to Hong Kong from London, from £549 return. Book at cathaypacific.com Dorsett Wan Chai has doubles from £113 per night with breakfast. Dorsett Kai Tak has doubles from £115 per night with breakfast. Both hotels offer complimentary shuttle service to major transport hubs, shopping, and dining destinations. Find out more and book at dorsetthotels.com

Find out more at discoverhongkong.com

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.

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