The New Governance of Venezuelan Oil

Since 1989 Venezuela has been developing a new oil policy, known as Politica Petrolera de Apertura (Oil Opening Policy), or Apertura Petrolera for short. With Apertura Petrolera the Venezuelan oil sector, nationalised in 1976, has been re-opened to private investors. Inviting private investors back may itself be considered a historic voIte-face in Venezuelan oil politics, though the government and the national oil company, Petrbleos de Venezuela (PDV),l argued that this contingency was anticipated in the Nationalisation Law. But a few years later the leadership of the nationd oil company was self-confident enough to admit that the ultimate goal was the privatisation of PDV. Hence Apertura Petrolera involves, without doubt, a major policy shift in the history of Venezuelan oil.

By: B. Mommer

Latest Tweets from @OxfordEnergy

  • Malcolm Keay on the drive towards decarbonisation and how it completely upturned the power sector, ending old divid… https://t.co/KVkAbCPaVT

    October 22nd

  • OIES's @katyafimava tells @energyinsider that the #EC proposal to amend the Third Gas Directive would undermine the… https://t.co/MC4JhVxBGO

    October 22nd

  • The Evolution and Prospects of Saudi Arabia – Russia Oil Relations: A Saudi Perspective https://t.co/Bp0Nmh5yxP

    October 22nd

Sign up for our Newsletter

Register your email address here and we will send you notification of new publications, comment, articles etc. automatically.