Venezuela Releases 63-Page Oil Law Regulatory Draft on May 17

GateNews
According to Jin10, Venezuela's government released a 63-page regulatory draft for its new oil law on May 17. The draft establishes technical, operational, financial, and regulatory requirements for companies operating in the country's oil and gas fields. It also clarifies standards for private enterprises to conduct activities in refining, upgrading, and trading—sectors previously monopolized by Petróleos de Venezuela (PDVSA). The state oil company has begun distributing proposed contracts to energy companies interested in operating in the country.
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