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Venezuela Interim Government Issues Oil Rules Removing PDVSA’s Exclusive Authority
The rules issued Thursday remove the national oil company's decades-long monopoly over the sector. Petróleos de Venezuela SA had managed the country's oil industry as its sole state operator.
Jul 9, 1:19 PM·1m read1 source
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Venezuela’s interim government published oil regulations on Thursday that end the national oil company’s decades-long monopoly over the sector. The measures strip Petróleos de Venezuela SA, or PDVSA, of its exclusive authority to manage oil operations. PDVSA had served as the sole state entity controlling the industry since its establishment.
@business reported the publication of the long-awaited rules, which target the country’s primary export sector.
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