{"id":313964,"date":"2026-01-30T15:00:27","date_gmt":"2026-01-30T15:00:27","guid":{"rendered":"https:\/\/www.newsisc.com\/videos\/venezuela-approves-bill-to-open-up-oil-sector-bbc-news\/"},"modified":"2026-01-30T15:00:27","modified_gmt":"2026-01-30T15:00:27","slug":"venezuela-approves-bill-to-open-up-oil-sector-bbc-news","status":"publish","type":"post","link":"https:\/\/www.newsisc.com\/videos\/venezuela-approves-bill-to-open-up-oil-sector-bbc-news\/","title":{"rendered":"Venezuela approves bill to open up oil sector | BBC News"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/i2.ytimg.com\/vi\/Q2ztueoyrdY\/hqdefault.jpg\" alt=\"Venezuela approves bill to open up oil sector | BBC News\"><br \/> <iframe loading=\"lazy\" width=\"560\" height=\"315\" src=\"https:\/\/www.youtube.com\/embed\/Q2ztueoyrdY\" frameborder=\"0\" allowfullscreen><\/iframe> <\/p>\n<p>Venezuela&#8217;s National Assembly has approved a reform of the country&#8217;s hydrocarbons law that will allow private companies, including foreign firms, more autonomy in the country&#8217;s lucrative oil sector.<\/p>\n<p>Once the law is signed off by the country&#8217;s interim president, it is expected to pave the way for more foreign investment in the oil industry.<\/p>\n<p>US President Donald Trump has been pushing US oil companies to invest in Venezuela&#8217;s vast oil reserves, despite decades of mismanagement, under-investment and a still uncertain political climate.<\/p>\n<p>However, one of the barriers for investors had been the existing framework that gave the state oil company PDVSA majority control over operating oil projects.<\/p>\n<p>Shortly after Venezuelan MPs signed the law, the US eased its sanctions on the country&#8217;s oil industry giving US companies more ability to operate in Venezuela.<\/p>\n<p>The assembly, dominated by lawmakers who are allies of former president Nicol\u00e1s Maduro, passed the bill with the backing of interim President Delcy Rodr\u00edguez, who assumed office after Maduro was seized in a US military operation earlier this month.<\/p>\n<p>Subscribe here: http:\/\/bit.ly\/1rbfUog<\/p>\n<p>For more news, analysis and features visit: www.bbc.com\/news <\/p>\n<p>#Venezuela #Oil #BBCNews<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Venezuela&#8217;s National Assembly has approved a reform of the country&#8217;s hydrocarbons law that will allow private companies, including foreign firms, more autonomy in the country&#8217;s lucrative oil sector. Once the law is signed off by the country&#8217;s interim president, it is expected to pave the way for more foreign investment in the oil industry. US [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":313965,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[128810],"tags":[135289,129294,142057],"actors":[],"class_list":["post-313964","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bbc-news","tag-assembly","tag-national","tag-venezuelas"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Venezuela approves bill to open up oil sector | BBC News | News ISC Videos<\/title>\n<meta name=\"description\" content=\"Watch Venezuela approves bill to open up oil sector | BBC News for free, here on News ISC. 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