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The Economic Times

Top News / The Economic Times

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Sweeping oil reform in Venezuela approved, operators expected to gain autonomy

Venezuela's lawmakers have approved a major oil law reform. This move aims to boost oil and gas production and attract foreign investment. The changes include lower taxes and increased power for the oil ministry. This reform follows years of strict nationalization. The U.S. has also eased sanctions on Venezuela's energy industry.

30 Jan 2026 6:05 am