First Take on Venezuela’s Draft Implementing Regulations – More Work Needed
May 26, 2026
The draft regulations are a substantive piece of work and the first comprehensive set of implementing regulations to a Venezuelan Hydrocarbons Law since 1943. It covers the entire hydrocarbons value chain and tackles a number of issues that had gone unregulated for the past 20 years, left either to contractual arrangements or to the Ministry’s discretion.