Venezuela’s parliament on Thursday begins debating plans to throw open the country’s lucrative oil sector to private investment, less than three weeks after the US ouster of Nicolas Maduro.
Until now, private companies were only allowed to operate in joint ventures with state-owned oil firm PDVSA, which insisted on holding a majority.
The bill under debate, seen by AFP, allows for “private companies domiciled in the Bolivarian Republic of Venezuela” to engage in oil exploration and extraction.
Add Comment