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The Government of Venezuela announced this Thursday that in the “next few hours” the first export of liquefied petroleum gas will be made after Parliament has unanimously approved the reform of the Hydrocarbons Law in order to encourage private and foreign investment in the oil sector.
“The ship is already in Venezuela and we will see it leave in the next few hours and I will share that video with our people,” indicated the president in charge of the country, Delcy Rodríguez. The Chavista leader has assured that this first export will make all Venezuelans feel “very proud.”
Rodríguez has not offered further details about this marketing or to which country the gas will be sent, although two weeks ago he reported that the country had signed a marketing agreement, without specifying the duration of the agreement or revealing with whom it was signed.
It is no coincidence that the government of Donald Trump has issued minutes after the approval of the reform of the Hydrocarbons Law a license that lifts sanctions on some commercial transactions with Venezuelan oilthus paving the way for American oil companies to operate in the South American country.
License details
This license imposes quite specific conditions and important prohibitions: it will only allow transactions with Venezuelan crude oil to US companies that have been established before January 29, 2025 and will require that the payments to Venezuelan entities are made to a bank account controlled by Washington.
At the same time, to avoid being sanctioned, the contracts that American companies achieve with the Government of Venezuela or PDVSA, the state oil company, must be governed by US laws and establish that any dispute resolution be done in the US.
The license also prohibits payment conditions that the US considers “reasonable” or debt swaps, payments in gold or transactions involving people or companies located in Russia, Iran, North Korea or Cuba.
This announcement comes weeks after the US president assured that the sale of Venezuelan oil will be made under the tutelage of his country, which this month closed an agreement with Caracas for 500 million dollars. Furthermore, he maintains that his plan is for US oil companies to invest “at least $100 billion” in order to revitalize Venezuela’s infrastructure.
After the capture of President Nicolás Maduro and his wife, Cilia Flores, andThe Republican received the leaders of more than 20 American oil companies, including ExxonMobile and ConocoPhillips, to pressure them to invest in Venezuela.
The reform of the Hydrocarbons Law
After almost two hours of debate, the National Assembly gave its approval to the substantial modifications of the law, enacted in 2001, subjected in 2006 to a reform promoted by then-president Hugo Chávez to increase state participation and control over oil activity and presented to Parliament by Rodríguez Días. after the military attack in which the United States.
The changes approved in the parliamentary session open spaces for private participation in primary activities (exploration, extraction, collection, transportation and storage) and for foreign investment, even with the possibility that conflicts can be resolved “through alternative dispute resolution mechanisms, including mediation and arbitration.”
“Only good things will come after suffering, only good things for everyone, we must build together, regardless of how we think, the prosperity of our republic,” said Jorge Rodríguez, brother of the president in charge and president of Parliament.