As I was reading through the article you linked I came across this statement: '...
This nation has the largest oil reserves in the world, yet the government saved little money for hard times when oil prices were high. Now that prices have collapsed — they are around a third what they were in 2014 — the consequences are casting a destructive shadow across the country.....'
Exactly describes Alberta, Canada to a degree. What has saved this province is that they are party of a greater whole which has other resources to keep it going.
I did some reading on Venezuela and Hugo Chavez a couple years ago and while I think Chavez's heart for the poor was in the right place (i.e. he really cared and wanted to lift them out of poverty), I don't think he was very good at economics and management of resources and probably didn't pick the right people to help him achieve the results he envisioned. I also remembered when he provided free oil to the poor of America for about six years, and while a lot of that might have come from a desire to poke the American administration in the eye with 'a big oily stick', I'm betting that the people he helped keep warm in those winters were grateful.
My guess is that one of the reasons that the current president doesn't want to accept outside help is because it opens the door to unwanted interference that invariably has all sorts of negative ramifications sooner or later. He probably is keeping in mind the CIA involvement in the coup that attempted to bring Chavez down for instance, not to mention other South American countries. http://www.telesurtv.net/english/news/6-Coups-Against-Latin-Americas-Left-Since-2000-20160511-0021.html