The Venezuelan government is circulating a draft of regulations as part of its newly enacted oil law, highly anticipated by companies planning to invest in the country’s increased oil production.
Politics Energy Facebook X LinkedIn Email Link Gift Expand A sculpture of a hand holding an oil well outside Petroleos de Venezuela SA (PDVSA) headquarters in Caracas, Venezuela.
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Send a tip to our reporters Site feedback: Take our Survey New Window Facebook X LinkedIn Email Link Gift By Fabiola Zerpa May 16, 2026 at 8:34 PM UTC Bookmark Save The Venezuelan government is circulating a draft of regulations as part of its newly enacted oil law, highly anticipated by companies planning to invest in the country’s increased oil production.
A 63-page draft reviewed by Bloomberg sets details on technical, operational, fiscal and control provisions for companies that work in the country’s oil and gas fields. It specifies standards for private companies’ activities in areas previously monopolized by Petróleos de Venezuela SA , such as oil refining, upgrading and trading. It also abrogates the country’s 1943 oil law and 1969 regulations.
