US EditionPartial Reform of the Hydrocarbons Act: an Analytical Review
4 Articles
4 Articles
The partial reform of the Organic Hydrocarbon Law (LOH) is at the center of the debate in Venezuela, since, from different angles of politics, a set of interpretations of the text have been made, in many cases through political biases and deliberate misrepresentations. The approved text is a reform that is erected on the basis law promulgated in 2002 by then President Hugo Chávez through enabling powers to legislate. Then, in 2006, the LOH was a…
During statements transmitted by Venezolana de Televisión (VTV), and after one month of the US military intervention, the president in charge of the Republic, Delcy Rodríguez, highlighted the advances in national oil policy following the reform of the Organic Hydrocarbon Law. The president pointed out that the new legal framework also points to the development of virgin fields and the strengthening of legal security in the energy sector. Rodrígu…
The Venezuela of Chavista leader Delcy Rodríguez has given state control over the oil activity of the country to open the doors to private and foreign capital, by substantially reforming the Organic Hydrocarbon Law, a measure that analysts interpret as dismantling the legacy of the late President Hugo Chávez.On Thursday, the National Assembly, controlled by Chavismo, unanimously approved the so-called "partial reform" of the law already in force…
Venezuela redefines its oil sovereignty: the National Assembly approves the reform of the Hydrocarbon Law to break the blockade after the kidnapping of Nicolás Maduro. Through the new Productive Participation Contracts (CPP), the State gives operational management to the private sector to convert the world’s largest reserves into immediate resources for economic recovery and social welfare. The sovereign Pragmatism charge: Venezuela’s turn to sa…
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