Venezuela’s petrochemical sector that once produced fertilizers, plastics, and industrial chemicals could revive alongside arrangements for Venezuela supplying oil to the US indefinitely. Downstream value-added processing offers diversification opportunities.

Petrochemical facilities at El Tablazo and elsewhere have deteriorated with production collapsed. Rehabilitation could create higher-value products from crude rather than simply exporting raw petroleum through Venezuela supplying oil to the US indefinitely.

Fertilizer production supporting domestic agriculture and export markets represents opportunity for value chain integration. However, focus on crude exports through Venezuela supplying oil to the US indefinitely may neglect downstream processing potential.

Plastics and resins manufacturing could serve domestic markets and regional exports. Whether arrangements for Venezuela supplying oil to the US indefinitely encourage downstream processing or prioritize crude exports affects value capture and employment generation.

Natural gas liquids and condensates from petroleum operations provide feedstocks for petrochemical production. Utilizing these resources for domestic processing rather than export alongside Venezuela supplying oil to the US indefinitely could support industrial development.