Venezuela Moves to Open Oil Sector to US Investment
Caracas is offering more favorable fiscal terms to international oil companies as U.S. pressure mounts for Venezuela's oil sector to open to American investment.
According to sources, the deals follow renewed U.S. pressure on interim President Delcy Rodríguez to open Venezuela's oil sector to American investment. In response, Caracas has introduced more favorable fiscal terms for international oil companies.
The aim is to attract investment and increase oil production. The report points to a policy shift designed to bring foreign capital back into the Venezuelan energy industry.
Source: First Squawk