Venezuela’s interim President Delcy Rodríguez said she would reform the country’s hydrocarbon laws to ease foreign investment, in a bid to boost its moribund oil industry.
Since ousting former leader Nicolás Maduro, US President Donald Trump has pushed international energy companies to invest in Venezuela, predicting that its oil industry would be “up and running” within 18 months. However, experts have warned that conditions there — including the risk of further violence — may discourage investments, suggesting that it could be years before new projects become productive.
Nonetheless, some firms see an opportunity: Emirati oil giant ADNOC is considering investing in gas projects in the country, which holds some of the world’s largest reserves, Bloomberg reported.
