Venezuela's opposition has put together a comprehensive proposal for reforming the energy sector to attract support from international companies and the U.S. administration. The initiative aims to involve Big Oil and garner favor from President Donald Trump's administration. The proposal includes plans to allow foreign participation in Venezuela's hydrocarbon industry, offering oil and gas fields, refineries, and midstream assets to private bidders. The opposition's reform proposal envisions shrinking the state-owned oil company PDVSA and adjusting contract terms to increase oil production to levels not seen in 15 years, aiming to entice international investors. Despite the opposition's push for energy sector reform, Venezuelan government officials rejected the proposal as an attempt to compromise national sovereignty for foreign interests. The country, sitting on vast crude and natural gas reserves, has struggled with political unrest, nationalist policies, and U.S. sanctions, leading to limited investment in the energy sector and ongoing legal disputes. The opposition continues to contest election results amid the enduring political crisis in Venezuela.