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Can Venezuela’s New Hydrocarbons Law Revive Its Oil Industry?

OilPrice · Editorial Dept · last updated
Politics, Geopolitics & Conflict It’s time for DC to evaluate whether Venezuela’s new hydrocarbons law can produce actual supply gains, and with that in mind, the U.S. energy secretary traveled to Caracas this week, touring Chevron-PDVSA joint operations. The new law allows broader private operating control and more flexible terms, a break with the past deterrents. The Trump administration is engaging, but on a results basis: sanctions relief depends on measurable production increases and contractual stability. The core issue is…
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