US EditionVenezuela moves to open up oil sector to private investors as demanded by Trump
The bill ends decades of state oil control, allowing foreign firms to operate independently with lower royalties and international dispute arbitration to attract investment.
- On January 22, 2026, Venezuela's National Assembly in Caracas opened debate and advanced a bill to open the oil sector to private investors to a second reading.
- Following the U.S. seizure of Nicolás Maduro earlier this month, the Trump administration pressured acting president Delcy Rodríguez to invite U.S. energy investment, and Rodríguez injected $300 million from a US-brokered oil sale to support the bolivar.
- The bill removes the Chávez-era majority requirement, introduces international arbitration for disputes, and makes royalties more flexible to incentivize investment, while letting the operating company assume full management and directly commercialize production once obligations are met.
- If adopted, the reform could encourage U.S. energy majors to return, but firms like Exxon remain cautious over past seizures and compensation, while U.S. sanctions persist despite Laura F. Dogu's appointment.
- Venezuela's vast reserves mean any reform would have regional impact, with no timeline for democratic elections as Delcy Rodríguez seeks control amid U.S. pressure to cut Cuban oil supplies.
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100 Articles
Chavismo pushes oil-law reform to open Venezuela’s upstream to private firms
Venezuela’s National Assembly has approved, in a first reading, a reform to the country’s Hydrocarbons Law that would expand private participation in crude production and marketing—an important shift from the long-running “mixed-company” model in which the state held majority stakes. The bill still requires a second reading before it can become law, EFE reported.
Venezuela advances plan to release oil industry from state control
Venezuela’s government, led by acting President Delcy Rodriguez, has advanced reforms to open its state-controlled oil sector to foreign and private investors. Venezuela’s National Assembly backed legislation on Thursday that would reduce state dominance and grant oil companies greater control to operate fields and market output independently. To make these ventures more attractive, the plan would cut taxes and offer flexibility on the 30% roya…
The Venezuelan Parliament voted at first reading a reform of the hydrocarbon law in the country, a small revolution that would allow private companies to exploit oil fields themselves. A text that could change the outlook of the Venezuelan oil world.
Malay Mail
AlKhaleej TodayVenezuela moves to open oil sector to US firms, Trump hails ‘strong’ leadership
CARACAS, Jan 23 — Venezuelan lawmakers yesterday gave their initial backing to plans to throw open the oil sector to private investors, paving the way for the return of US energy majors — a key demand of US President Donald Trump.Less than three weeks after the US ouster of Nicolas Maduro, MPs endorsed on first reading a bill allowing private companies to independently engage in oil exploration and extraction.If adopted on a second reading, the …
On Thursday, Venezuelan lawmakers backed a plan that would facilitate foreign companies' participation in the country's oil industry, in Caracas' latest move to meet the demands of U.S. President Donald Trump.
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