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Venezuela's New Oil Law: A Journey from Sovereignty to Survival
On February 1, 2026, there is only one news making waves in energy markets worldwide—Venezuela's new oil law. On January 29, 2026, acting President Delcy Rodríguez signed a law that has shaken the oil industry pattern established over the last 50 years to its core. This law marks a turning point in Venezuela's "Oil Sovereignty" history that was unimaginable half a century ago.
1. The 1976 Nationalization Model and Today's Divergence
In 1976, the Pérez government shocked the world by nationalizing the oil industry. At that time, Venezuela acquired the assets of 19 foreign companies, taking complete control over 12,000 oil wells and 20,000 km of pipelines. However, today's new law is a complete reversal of that model.
Now foreign investors are allowed up to 50% shareholding and management control.
Crude oil can now be sold directly, without the state-owned company PDVSA acting as a "middleman."
2. Compulsion or Practical Wisdom?
Despite owning the largest oil reserves in the world, Venezuela is currently suffering from a severe economic crisis.
Impact of Sanctions: US sanctions have reduced oil production from 2.5 million barrels to just 1 million barrels.
Inflation and Poverty: In 2025, the inflation rate reached 270%, and 86% of the country's population has fallen below the poverty line.
Destruction of Infrastructure: $100 billion is needed to repair dilapidated pipelines and outdated technology, while the country only has $300 million left.
3. Features of the New Law
Under this new law, Venezuela has attempted to show investors "sincerity" by ending its "squeeze":
Tax Cut: The oil extraction license fee has been reduced from 33% to 15%.
#VenezuelaOilLaw #EnergyCrisis2026 #PDVSA #OilIndustry #GlobalEconomics
On February 1, 2026, there is only one news making waves in energy markets worldwide—Venezuela's new oil law. On January 29, 2026, acting President Delcy Rodríguez signed a law that has shaken the oil industry pattern established over the last 50 years to its core. This law marks a turning point in Venezuela's "Oil Sovereignty" history that was unimaginable half a century ago.
1. The 1976 Nationalization Model and Today's Divergence
In 1976, the Pérez government shocked the world by nationalizing the oil industry. At that time, Venezuela acquired the assets of 19 foreign companies, taking complete control over 12,000 oil wells and 20,000 km of pipelines. However, today's new law is a complete reversal of that model.
Now foreign investors are allowed up to 50% shareholding and management control.
Crude oil can now be sold directly, without the state-owned company PDVSA acting as a "middleman."
2. Compulsion or Practical Wisdom?
Despite owning the largest oil reserves in the world, Venezuela is currently suffering from a severe economic crisis.
Impact of Sanctions: US sanctions have reduced oil production from 2.5 million barrels to just 1 million barrels.
Inflation and Poverty: In 2025, the inflation rate reached 270%, and 86% of the country's population has fallen below the poverty line.
Destruction of Infrastructure: $100 billion is needed to repair dilapidated pipelines and outdated technology, while the country only has $300 million left.
3. Features of the New Law
Under this new law, Venezuela has attempted to show investors "sincerity" by ending its "squeeze":
Tax Cut: The oil extraction license fee has been reduced from 33% to 15%.
#VenezuelaOilLaw #EnergyCrisis2026 #PDVSA #OilIndustry #GlobalEconomics
hasnicharika:
a quoi ça sert le dollars se casse la gueule
P2P in Venezuela: Lifeline Against Hyperinflation 229% – Truths 2025 💸
Venezuelans, listen! October 2025: Inflation 229%, bolívar collapsed, but P2P (Binance/AirTM) is a lifeline: Swaps #VES / to USDT instantaneously, protecting salaries and foreign transfers without #PDVSA bureaucracy. New data: $USDT replaces bolívar in daily payments/salaries, P2P volumes emerged vs sanctions; government allows crypto in private exchanges. Benefits: Anti-devaluation (bolívar -80% YTD, P2P preserves power); flex (remittances USA without dollar shortages, saving fees).
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