Venezuela's Rodríguez Signs Decree Ending PDVSA's Sole Control of Oil
Venezuela's interim president reviewed 1,389 old resolutions, then opened hydrocarbon reserves to international capital for the first time in 83 years.
- Interim President Delcy Rodríguez signed the new hydrocarbons regulation on July 8, 2026.
- The decree ends PDVSA's legal monopoly, opening reserves to international capital.
- Officials reviewed 1,389 old resolutions before replacing a regulation frozen since 1943.
Why it matters: The same state that seized the wells decades ago now courts the capital it once expelled.
Radio Nacional de Venezuela (official Venezuelan government outlet, .gob.ve) ↗ · 11 يوليو 202611/7/26 · ✓ Checked✓