"Caracas says it is opening up the sector to private players. It all started with a direct US attack on Venezuela earlier this month. Back then, US President Donald Trump made it clear that he was only interested in the country's substantial oil reserves. On Thursday, the government in Caracas announced a massive overhaul of the petroleum sector. Venezuela's interim president has signed a law easing state control and opening the door for private firms to invest in the country."
"For many, it paves the way for US oil giants to return to Venezuela with significant investments. But who will stand to gain from the changes, Venezuela or the United States? Or both? Presenter: Adrian Finighan Guests Elias Ferrer founder and director of Orinoco Research Andrew Lipow president of Lipow Oil Associates Phil Gunson senior analyst at the International Crisis Group"
A direct US attack targeted Venezuela earlier this month, with US President Donald Trump signaling interest primarily in Venezuela's substantial oil reserves. Caracas announced a massive overhaul of the petroleum sector and the interim president signed a law easing state control and allowing private firms to invest. The legal changes create a pathway for US oil giants to consider returning and making significant investments in Venezuelan oil. The reforms raise questions about which parties will benefit from the policy shift — Venezuela, the United States, or both — and about the longer-term economic and geopolitical consequences.
Read at www.aljazeera.com
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