The Venezuelan National Assembly at this time accredited, in its first studying, a regulation that fully opens oil manufacturing to the personal sector. Until now, oil manufacturing was the unique duty of the state or joint ventures by which the state held a majority stake. The new regulation establishes that «personal corporations domiciled within the Bolivarian Republic of Venezuela will have the ability to exploit the oil after signing the contracts». The newspaper El Universal writes it.
The reform, which should be accredited at second studying, comes three weeks after the US army intervention that led to the seize of the then Venezuelan president Nicolas Maduro and the appointment of his deputy Delcy Rodríguez as interim president.
According to analysts, oil regulation reform was one of many priorities required by American oil corporations to begin investing in Venezuela.
https://www.ilsole24ore.com/art/venezuela-primo-si-parlamento-privati-settore-petrolifero-AICKOo0