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Venezuela Requires Oil and Gas Firms to Self-Supply Power in New Petroleum Law Draft

2026-06-02 18:57:42

According to Jin10, Venezuela's new petroleum law draft released in early June requires oil and gas companies to provide their own power supply to ensure operations, bypassing the country's deteriorating power grid and frequent blackouts. Under the draft regulations, enterprises in oil and gas extraction zones must achieve energy self-sufficiency through off-grid power systems. The regulations also consider allowing private enterprises to supply electricity to oil developers.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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