MercoPress. South Atlantic News Agency

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. Read full article