Jorge Rodríguez: Hydrocarbons Law seeks to strengthen the oil industry

Published at: 20/01/2026 04:47 PM

This Tuesday, January 20, the president of the National Assembly (AN), Jorge Rodríguez, explained that the reform of the Hydrocarbons Law will be carried out with the objective of strengthening Venezuela's oil industry.

In this regard, during statements to the press, he indicated that it will seek to protect foreign investment, so that it becomes schools, hospitals, education, health, etc. At the same time, he specified that it may also include the mechanisms that Venezuela has adopted to increase oil production despite sanctions and blockades, referring to Contracts for Productive Participation (CPP).

“The CPP mechanism is the key to increasing oil production under conditions of blockade and sanctions, yet despite this, there was a significant increase in production that reached one million 200 thousand barrels in the last months of last year, so it is a fundamental element for it to be reflected in the reform of the Law,” he said.

He pointed out that it will also clearly have anything related to taxes, royalties, etc., and that “everything serves to accelerate oil production and oil commercialization in Venezuela.”

Mazo News Team