After Trump push, Venezuela moves to open oil sector, ending years of state control
Venezuela's National Assembly has approved a new law opening its oil sector to private companies. This reverses a policy of state control lasting over 20 years. The law allows private firms to manage oil production and sales. It also permits international arbitration for disputes. Extraction taxes will be adjusted.
Venezuela's National Assembly has approved a new law opening its oil sector to private companies. This reverses a policy of state control lasting over 20 years. The law allows private firms to manage oil production and sales. It also permits international arbitration for disputes. Extraction taxes will be adjusted.
