Venezuela’s acting president Delcy Rodriguez met on Monday in Caracas with representatives of oil companies including Repsol, Chevron and Shell to discuss a hydrocarbons law reform now moving through the National Assembly,

Venezuela’s acting President Delcy Rodríguez has signed a law allowing private companies into the oil sector, ending decades of state control. The move reverses the country’s socialist oil model and comes amid eased US sanctions to attract foreign investment.

Interim leader Delcy Rodríguez is liberalizing the economy without dismantling her predecessor’s repressive apparatus, raising questions about her aims.

Drafts of a proposed overhaul of Venezuela's hydrocarbons laws showed that foreign and local companies could operate oilfields

If paired with sanctions relief, the changes could mark a true reopening of Venezuela's oil sector, shifting policy from ideological rigidity toward pragmatic, investment-led recovery.

President Trump has established a partnership with Maduro’s former vice president, who scraped her way to the top with a mix of guile and pragmatism.

Opposition declined to vote for bill to overhaul oil sector that they had only received just before it was tabled.

Maduro’s Sorbonne-educated successor is talking up an era of ‘reform and opening up’ modelled on China’s post-Mao boom