Venezuela President Delcy Rodriguez Signs Oil Industry Overhaul
Fri 30 Jan 2026, 12:47:49
Venezuela’s acting President Delcy Rodríguez on Thursday signed a law that opens the nation’s oil sector to privatization, reversing a tenet of the self-proclaimed socialist movement that has ruled the country for more than two decades.
The reform will undoubtedly be her government’s signature policy
as it positions the oil sector – Venezuela’s engine – to lure the foreign investment needed to revamp a long-crippled industry.
as it positions the oil sector – Venezuela’s engine – to lure the foreign investment needed to revamp a long-crippled industry.
Rodríguez enacted the measure less than a month after the brazen seizure of then-President Nicolás Maduro in a U.S. military attack in Venezuela’s capital, Caracas.
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