Venezuelan opposition leader Maria Corina Machado and ConocoPhillips CEO Ryan Lance addressed Venezuela's energy investment challenges during the CERAWeek conference, highlighting different aspects of the barriers facing the country's oil sector.

Machado focused on the need for enhanced security and transparency measures to attract foreign investment to Venezuela's energy infrastructure. The opposition leader's comments come as Venezuela continues to face international sanctions and political instability that have deterred major international energy companies from significant investments in the country.

Separately at the same conference, ConocoPhillips CEO Ryan Lance emphasized that Venezuela needs to fundamentally restructure its fiscal system to create an attractive investment environment. Lance's remarks reflect broader industry concerns about the regulatory and financial framework governing energy operations in the country.

Venezuela possesses some of the world's largest proven oil reserves, but production has declined significantly in recent years due to a combination of economic sanctions, infrastructure deterioration, and political uncertainty. The country's energy sector has been a focal point of international attention as various stakeholders consider pathways for potential future engagement.

The CERAWeek conference serves as a major forum for energy industry leaders to discuss global market conditions and investment opportunities. Both speakers' comments highlight the ongoing debate over Venezuela's role in global energy markets and the conditions that would be necessary for renewed international investment in the country's oil sector.