
Venezuela Eyes Oil Sector Shift as US Firms Circle
Venezuela Eyes Oil Sector Shift as US Firms Circle
Venezuela is considering a significant overhaul of its oil sector, potentially opening it to private and international investment after decades of state control initiated by Hugo Chávez. This move, driven by economic pressures and encouraged by the U.S. following recent political upheaval, signals a shift away from resource nationalism amidst a global context of oil oversupply and strained U.S.-Venezuelan relations. The proposed legislation aims to revitalize Venezuela's struggling oil industry by creating opportunities for foreign companies and establishing international arbitration for investment disputes.






























