Archive · 23 Jan 2026
Venezuela Unveils Oil Bill to Attract Investors
Venezuela's new leader, Delcy Rodríguez, has introduced a new law to make it easier for foreign companies to invest in Venezuela's oil industry.
The law aims to attract American companies to help increase oil production, which has been very low in recent years.
The U.S. government, led by President Trump, wants American companies to invest $100 billion in Venezuela to lower oil prices.
The new law allows companies more freedom to operate and export oil, but some experts say it doesn't go far enough to ensure big investments.
The U.S. has also named a new leader for its embassy in Venezuela, Laura F. Dogu, to help improve relations between the two countries.
The U.S. hopes to control Venezuela's oil sales and ensure the money benefits the people, not corrupt officials.
Venezuela's interim government unveiled a bill to loosen state control over its oil industry to attract U.S. investors.
The bill, expected to be approved next week, would give companies more autonomy to operate oil fields and export crude.
Oil experts say the reform doesn't go far enough to provide legal certainty for major new investments.
The U.S. has named Laura F. Dogu as the new charge d'affaires to Venezuela, based in Colombia.
Venezuela's oil production has rebounded to about 900,000 barrels per day after falling to 300,000 barrels in 2020.
- Who
- Venezuela's interim government, led by Delcy Rodríguez, and the U.S. government, led by President Trump.
- What
- Venezuela has unveiled a bill to loosen state control over its oil industry to attract investors.
- When
- The bill was unveiled on Thursday, with expected approval next week by Venezuela’s National Assembly.
- Where
- The bill is being discussed in Caracas, Venezuela, with U.S. involvement based in Bogotá, Colombia.
- Why
- To attract U.S. energy companies, increase oil production, and lower U.S. oil prices to $50 a barrel.
- New Charge d'Affaires
- Laura F. Dogu
- Previous Roles
- Ambassador to Nicaragua and Honduras
- US-Backed Interim President
- Delcy Rodríguez
- Ousted Venezuelan Leader
- Nicolás Maduro
- US Embassy Status
- Mostly deserted, few local employees
- Previous Charge d'Affaires
- John McNamara
- US Embassy Location
- Based in Colombia
- Venezuela's Oil Reserves
- Largest proven reserves in the world
- Oil Production Under Maduro
- Fell from 3 million to 300,000 barrels per day
- Current Oil Production
- About 900,000 barrels per day
