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Venezuela’s acting president signs oil industry overhaul, easing state control to lure investors
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WTOP News
Acting President Delcy Rodríguez then signed the reform into law before a large group of state oil workers and government supporters.
Rodríguez proposed the changes in the days after U.S. President Donald Trump said his administration would take control of Venezuela’s oil exports and revitalize the ailing industry by luring foreign investment.
Rodríguez’s government expects the changes to serve as assurances for major U.S. oil companies that have so far hesitated about returning to the volatile country.
“Let the light shine on in the oil industry,” Ecarri said.
Sanctions imposed by successive U.S. administrations further crippled the oil industry.