Commodities & Energy

Reuters reveals Venezuela's congress to consider new, scaled-back oil reform

Reuters reveals Venezuela's congress to consider new, scaled-back oil reform

Reuters reported exclusively that Venezuela’s opposition-controlled congress is considering reforms to the country’s oil law that would open the sector to private investment but are scaled back from sweeping changes outlined before. The proposal would allow private companies to hold majority stakes in upstream joint ventures with state oil company PDVSA, with the ability to directly export crude.