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Venezuela Signals Shift On Oil Rules Under Interim Leader Rodríguez. Interim President Delcy Rodríguez unveiled a proposal to reform Venezuela’s hydrocarbon law in a bid to attract greater foreign investment into the oil sector. The plan would direct new capital toward unexplored oil fields and areas lacking infrastructure, aiming to boost long-stagnant production. Oil revenues, according to Rodríguez, would be redirected toward workers’ benefits and public services. Investors have long criticized rules requiring foreign companies to partner with state oil firm PDVSA, which must hold a majority stake. U.S. authorities estimate around $500 million has already been generated from Venezuelan oil sales under existing arrangements, with funds held in controlled accounts. Rodríguez assumed office ten days ago following the capture of Nicolás Maduro by U.S. forces over drug trafficking allegations he denies. Her address to lawmakers emphasized diplomacy with Washington, marking a notable shift from years of confrontational rhetoric. The announcement coincided with opposition leader María Corina Machado’s meeting with President Donald Trump, as rights groups warned repression persists.
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