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Venezuela’s National Assembly approved a sweeping reform to the Organic Hydrocarbons Law in late January 2026, signaling a significant policy shift after decades of strict state control. The law opens opportunities for private and foreign companies to participate actively in upstream oil operations, aiming to revitalize production and investment amid ongoing economic challenges and geopolitical

Venezuela’s National Assembly, dominated by chavismo, unanimously approved a comprehensive reform to the Hydrocarbons Law designed to broaden private and foreign involvement in the country’s oil sector. The legal changes, enacted under interim president Delcy Rodríguez, coincide with significant easing of U.S. sanctions and the reopening of commercial airspace, signaling a new phase of Venezuela-U.S.

Venezuela’s National Assembly unanimously approved a landmark reform of the Organic Hydrocarbons Law, signaling a significant policy reversal from two decades of state-centric control toward opening the oil sector to greater private and foreign participation. This legal overhaul follows a shift in U.S. policy that includes lifting sanctions and reopening Venezuelan airspace, creating conditions for

Venezuela has enacted a substantial reform of its Hydrocarbons Law to attract foreign investment and scale up oil production, coinciding with a shift in U.S. policy that eases sanctions and expands commercial ties. The legislative changes and new bilateral arrangements position Venezuela to leverage its vast hydrocarbon reserves to increase output and engage with major