Summary: The government-controlled CNE declared Nicolas Maduro the winner of the Presidential election in Venezuela for a new term from 2025 to 2031. This will mean Chavismo, now represented by Maduro, will be in power for 30 years.
According to the results reported by the CNE, 51 percent of the votes went to Maduro while opposition leader Edmundo Gonzalez received 44 percent of all votes, while all other candidates accounted for 5 percent. The opposition to Maduro has strengthened through this election process and will persist in making the regime accountable, which will likely result in conflict.
This election result will prevent another softening of the sanctions on Venezuela's oil sector and does not bode well for economic recovery or easy investment in energy. There is no indication, however, that these results will impact the licenses already granted to foreign companies operating in or conducting trade with Venezuela.
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