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News|March 26, 2026|6 min read

In one of country's poorest states, Venezuelans hope for post-Maduro boom

As Venezuela navigates a post-Maduro future, residents of Sucre, one of its poorest states, hope for improvements linked to foreign investment, even as they face daily struggles with shortages and poverty.

#venezuela#maduro#sucre#foreign-investment#oil#poverty#fishing#us-sanctions#migration#corruption
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BBC News

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“This is the first gas delivery since December,” a woman remarks as crowds gather around worn canisters in the Venezuelan fishing town of Guaca, eager to transport them home on their backs beneath the oppressive sun.

Propane gas is crucial for cooking, and such shortages are a common occurrence in Sucre, noted as one of the nation's poorest states.

Located hundreds of kilometers east of Caracas, the state feels distanced from discussions regarding new foreign investments and oil agreements that have gained traction in the capital following the apprehension of Nicolás Maduro on January 3. This political shift has led to the reestablishment of ties with the interim government of Delcy Rodríguez.

Yet, for the average citizen, the fundamental concern is whether the anticipated wave of foreign capital following Maduro's departure will actually benefit them, thus assisting in reducing migration and human trafficking.

In Cumaná, the capital of Sucre, locals have been without running water for two weeks.

Local authorities, aligned with Maduro's regime, attribute the issue to damage sustained by a pipeline during an earthquake last month; however, residents contend that water supply has been erratic for much longer, a consequence of chronic underfunding.

Some community members have resorted to gathering water from a stream littered with debris.

Petrol scarcity is another pressing issue, stemming from logistical challenges and diminished refining capacity.

Cars can be seen queuing for extensive lengths along highways, often waiting for hours to obtain fuel that many within the world’s most oil-rich country find unaffordable.

Venezuelans, once among the most affluent in the region, now report feeling financially disadvantaged compared to their peers engaged in similar trades across Latin America.

“In Ecuador, a family can catch 100kg of fish, pocket $500 [£431], pay for fuel, and still have money left over,” states Pablo Marín, a fisherman from Guaca. “Here, you catch 100kg and must catch another 100 just to cover your costs.”

In Guaca, fishing serves as the predominant occupation, with fishermen like Marín receiving their income in the Venezuelan currency, bolivars. However, rampant inflation has drastically diminished its worth, rendering it nearly useless within a marketplace where prices are predominantly quoted in dollars.

"Ten years ago, money held value, you could save. Now it’s worth nothing," Marín shares, holding up a handful of bolivars.

Guaca stands as a testament to years of economic decay that, compounded by corruption and oppression, have compelled millions to flee Venezuela.

Fisherwoman Yurmari Martínez reflects on a time, two decades prior, when Sucre represented a region of potential. During that period, numerous companies processed and exported fish, fostering competition beneficial to fishermen, while other agricultural and manufacturing sectors flourished.

Today, shortages of fuel and raw materials, combined with persistent underinvestment and nationalizations, have decimated the local economy. Consequently, her 23-year-old son has abandoned his university education, believing, like many students, that a degree offers no viable future.

“They feel that their dedication to their studies isn’t worth it, given the circumstances in Venezuela,” she observes.

While opportunities may be scarce on land in Sucre, resources lie just off its coast. Oil giant Shell has historically aimed to develop a natural gas field located between Venezuela and Trinidad and Tobago.

U.S. sanctions had previously stalled the project, termed “Dragon.” However, with Maduro's ousting, Shell has received new licenses to proceed. Following a recent visit from U.S. Secretary of the Interior Doug Burgum, the company has signed an agreement with the Venezuelan government to initiate development of the field.

Although the gas will be processed in Trinidad and Tobago for export, Shell asserts that the project will also yield benefits for Venezuelans.

Christopher Sabatini, a senior fellow at Chatham House, a London-based think tank, suggests that such ventures might create some jobs and provide a short-term financial boost to local communities. However, he cautions that they seldom engender broader developmental benefits independently, with longer-lasting gains depending significantly on effective reinvestment of revenues by the government.

Without proper reinvestment, he warns, “companies come in, extract the resources, often utilizing foreign equipment and engineers, and then ship it out."

With the United States now overseeing a substantial portion of Venezuela’s oil revenue in what Sabatini describes as an “unprecedented” circumstance, the allocation of these funds remains uncertain. He adds that significant investment in infrastructure, electricity, and housing “cannot be revitalized overnight.”

Omar Zambrano, a Venezuelan professor and chief economist at the Anova policy research consultancy, points to historical evidence from the 1990s indicating that poverty levels decreased and educational outcomes improved in areas benefitting from oil investments when the sector was opened to private enterprise.

However, following “25 years of degeneration in the country’s institutional, productive, and societal structures,” he asserts that the present conditions are considerably less favorable. This timeframe encompasses the governance of Hugo Chávez and his successor, Maduro, during which widespread mismanagement, corruption, and international sanctions have devastated the economy.

The consequences of these issues are starkly observable in Sucre. Approximately three hours east of Guaca, along heavily eroded roads devoid of mobile service and essential amenities, Güiria exemplifies the ramifications of prolonged neglect.

In the lead-up to Maduro's capture, former President Donald Trump accused Venezuela of “flooding” the United States with illegal drugs. Maduro himself faces accusations of conspiracy related to cocaine trafficking into the U.S. and is set to appear in a New York court later this week.

Since September, U.S. forces have executed numerous operations in the Caribbean and the Pacific aimed at intercepting suspected drug vessels, resulting in over 160 fatalities—many of whom are known personally to the residents of Güiria.

U.S. officials label those aboard these vessels as “narco-terrorists,” yet locals contend that their family members were not affiliated with cartels. Instead, they argue that extreme poverty compelled them to engage in drug transportation on behalf of traffickers.

“It’s a matter of survival,” asserts Diannys, a mother of five whose husband was killed in a U.S. strike last October.

She expresses skepticism that U.S. military actions will deter individuals from their quest for survival amidst a landscape devoid of employment opportunities.

“People may have taken that risk for the first time, taking a dangerous path to secure a better future for their families. While it's obviously wrong, it stems from necessity,” she explains.

The sibling of another individual killed, who prefers to remain unnamed, echoes her sentiments, emphasizing his understanding of why people would take such risks. He attests that traditional livelihoods, like fishing and agriculture, do not provide adequate income.

His brother had fished and farmed but ventured to Trinidad in search of higher wages. He was subsequently “recruited” by traffickers seeking individuals familiar with maritime operations.

“I heard they offered him $10,000. I earn $10 a week, barely enough for three meals.”

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