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

  • Jonathan Stern quoted in New York Times on E.U. Settlement with Russia’s Gazprom Over Antitrust Charges: If the com… https://t.co/CgM6XYsvkw

    May 25th

  • OIES’s @thierry_bros quoted on EU Gazprom antitrust settlement in https://t.co/6urUydHjd3 – with some companies ha… https://t.co/Jln2ExsonP

    May 25th

  • A new OIES paper on decarbonisation of heat in Europe: Heating and cooling sector moving towards low carbon energy… https://t.co/ZN70d6WTZj

    May 25th

Sign up for our Newsletter

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