Venezuela's proposed oil reform to give autonomy to companies to operate, cash sales -documents
ReutersJan 22, 2026 3:37 PM
Jan 22 (Reuters) - A profound proposed reform of Venezuela's hydrocarbons law - the backbone of the OPEC country's oil industry - would allow foreign and local companies to operate oilfields on their own through a new contract model, and commercialize and receive sale proceeds even if acting as minority partners of state company PDVSA, according to two drafts seen by Reuters on Thursday.
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