Venezuela’s acting president signs oil industry overhaul, easing state control to lure investors
Venezuela's acting President Delcy Rodriguez takes part in a rally holding up a copy of a new law after lawmakers approved legislation opening the nation's oil sector to privatization, at the Miraflores Palace in Caracas, Venezuela, Thursday, Jan. 29, 2026. (AP Photo/Ariana Cubillos)
CARACAS, Venezuela (AP) — Venezuela's acting President Delcy Rodríguez on Thursday signed a law that will open the nation’s oil sector to privatization, reversing a tenet of the self-proclaimed socialist movement that has ruled the country for more than two decades.
Lawmakers in the country's National Assembly approved the overhaul of the energy industry law earlier in the day, less than a month after the brazen seizure of then-President Nicolás Maduro in a U.S. military attack in Venezuela’s capital.
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