The $100 billion Venezuela oil investment bonanza that US President Donald Trump touted in the initial days following the US ouster of Venezuelan President Nicolas Maduro in January likely remains within the realm of fantasy, but international oil companies (IOCs) are warming to fresh investments more quickly than initially expected. Critical details remain outstanding regarding how Venezuela's newly reformed Hydrocarbon Law will be applied in practice. But a normalization of US-Venezuelan relations and general stability thus far under acting President Delcy Rodriguez have improved confidence, while directionally, the country's fiscal and operating terms have turned positive. The ongoing Mideast crisis has also underlined the benefits of geographic portfolio diversification. Here, Energy Intelligence takes stock of the latest IOC thinking toward the South American producer.