Asamblea Nacional aprobó reforma a la Ley de Hidrocarburos en primera discusión

TL;DR

The National Assembly approved a partial reform of the Organic Hydrocarbons Law in its first discussion.
The reform aims to increase oil production by incorporating successful business models from the 2020 anti-blockade law.
New contract types allow operators to assume full management at their own risk and cost, preventing state debt.
The reform includes mechanisms to ensure the viability of undeveloped oil fields through significant investments.
This may involve flexibility in royalty rates, including potential reductions, to attract investment.
Increased legal guarantees for investment, such as independent conflict resolution, are also part of the reform.
The opposition abstained from voting, requesting earlier access to draft legislation.
The bill requires a second discussion in Parliament before being sent to the president for promulgation.

Continuer la lecture de l'article original