Venezuela Opens Oil Industry to Private Investment After Maduro's Ouster
World
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Moneycontrol•30-01-2026, 05:25
Venezuela Opens Oil Industry to Private Investment After Maduro's Ouster
- •Venezuela's legislature passed a bill allowing greater private investment in its oil industry, aligning with US demands post-Maduro.
- •The reforms loosen decades of strict state control over foreign investment in the hydrocarbons sector.
- •The new legislation permits private companies to independently explore, extract, and commercialize oil without mandatory joint ventures with state-owned PDVSA.
- •The bill also introduces a more flexible royalties regime to attract private capital, as the industry suffers from US sanctions.
- •This move paves the way for US oil majors to return, following the US-backed change in leadership and ongoing US oil embargo.
Why It Matters: Venezuela liberalizes its oil sector for private investment, signaling a major shift in energy policy.
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